McKesson (NYSE:MCK) Price Target Cut to $630.00 by Analysts at Leerink Partners

McKesson (NYSE:MCK) had its target price decreased by Leerink Partners from $665.00 to $630.00 in a report released on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price objective points to a potential upside of 27.25% from the company’s current price.

Several other equities analysts also recently commented on MCK. Barclays boosted their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Bank of America lifted their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Wells Fargo & Company cut their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $531.00 target price (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Stock Up 2.4 %

Shares of MCK opened at $495.09 on Monday. The firm has a 50 day moving average of $538.27 and a 200 day moving average of $554.00. McKesson has a twelve month low of $431.35 and a twelve month high of $637.51. The company has a market capitalization of $64.33 billion, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $7.27 earnings per share. On average, sell-side analysts expect that McKesson will post 32.07 EPS for the current year.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ossiam raised its stake in shares of McKesson by 28.5% during the 4th quarter. Ossiam now owns 4,759 shares of the company’s stock worth $2,203,000 after buying an additional 1,056 shares during the period. Connectus Wealth LLC raised its holdings in McKesson by 33.2% in the 4th quarter. Connectus Wealth LLC now owns 7,127 shares of the company’s stock valued at $3,302,000 after buying an additional 1,778 shares during the period. Elo Mutual Pension Insurance Co lifted its holdings in shares of McKesson by 3.8% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 11,778 shares of the company’s stock worth $5,453,000 after acquiring an additional 436 shares during the last quarter. Symmetry Investments LP purchased a new position in shares of McKesson during the fourth quarter worth $329,000. Finally, Bridgewater Associates LP grew its position in McKesson by 2.0% in the 4th quarter. Bridgewater Associates LP now owns 335,265 shares of the company’s stock valued at $155,221,000 after acquiring an additional 6,553 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.