Mizuho Forecasts Strong Price Appreciation for McKesson (NYSE:MCK) Stock

McKesson (NYSE:MCK) had its target price upped by stock analysts at Mizuho from $630.00 to $690.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price target suggests a potential downside of 4.25% from the company’s current price.

MCK has been the topic of several other reports. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Evercore ISI upped their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley boosted their price target on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $661.00.

McKesson Stock Performance

MCK stock traded up $27.06 during trading on Thursday, reaching $720.59. 429,566 shares of the company were exchanged, compared to its average volume of 839,560. The stock’s 50 day moving average price is $629.16 and its 200 day moving average price is $582.85. McKesson has a 52-week low of $464.42 and a 52-week high of $722.81. The company has a market cap of $90.31 billion, a P/E ratio of 32.85, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities research analysts forecast that McKesson will post 32.77 EPS for the current year.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is owned by insiders.

Hedge Funds Weigh In On McKesson

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCK. Frank Rimerman Advisors LLC raised its position in shares of McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after purchasing an additional 17 shares in the last quarter. Old North State Trust LLC increased its stake in shares of McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares during the last quarter. Trust Co. of Vermont raised its holdings in McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after acquiring an additional 18 shares in the last quarter. Hemington Wealth Management boosted its stake in McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after acquiring an additional 18 shares during the last quarter. Finally, First Western Trust Bank grew its holdings in McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after acquiring an additional 18 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.