Argus Boosts McKesson (NYSE:MCK) Price Target to $570.00

McKesson (NYSE:MCK) had its price target increased by Argus from $510.00 to $570.00 in a research note released on Wednesday morning, Benzinga reports. Argus currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on MCK. UBS Group boosted their price objective on McKesson from $575.00 to $620.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. StockNews.com lowered McKesson from a strong-buy rating to a buy rating in a research report on Thursday, January 4th. SVB Leerink started coverage on McKesson in a research report on Monday, February 26th. They issued an outperform rating and a $600.00 price target on the stock. Barclays started coverage on McKesson in a research report on Wednesday, January 3rd. They issued an overweight rating and a $537.00 price target on the stock. Finally, Citigroup upped their price target on McKesson from $530.00 to $575.00 and gave the company a buy rating in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $528.64.

McKesson Stock Down 0.1 %

Shares of MCK stock opened at $523.01 on Wednesday. The firm has a market capitalization of $68.73 billion, a P/E ratio of 23.70, a P/E/G ratio of 1.42 and a beta of 0.45. McKesson has a twelve month low of $352.34 and a twelve month high of $543.00. The stock’s fifty day simple moving average is $523.05 and its 200 day simple moving average is $483.40.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.90 EPS. As a group, equities research analysts expect that McKesson will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio is 11.24%.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Douglass Winthrop Advisors LLC raised its stake in McKesson by 1.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after buying an additional 21 shares during the period. Addison Advisors LLC raised its stake in shares of McKesson by 7.9% in the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after purchasing an additional 22 shares during the last quarter. Evergreen Wealth Solutions LLC raised its stake in shares of McKesson by 1.2% in the fourth quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock worth $894,000 after purchasing an additional 22 shares during the last quarter. Keystone Financial Services raised its stake in shares of McKesson by 2.1% in the fourth quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after purchasing an additional 24 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC raised its stake in shares of McKesson by 42.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Company Profile

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.