Deutsche Bank Aktiengesellschaft Trims McKesson (NYSE:MCK) Target Price to $545.00

McKesson (NYSE:MCK) had its price target decreased by stock analysts at Deutsche Bank Aktiengesellschaft from $547.00 to $545.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential downside of 1.62% from the company’s current price.

MCK has been the topic of several other research reports. Barclays lifted their price target on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. TD Cowen upped their price objective on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday. Argus raised their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Two research 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 stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $571.47.

McKesson Stock Performance

MCK traded up $10.39 on Thursday, hitting $554.00. 352,629 shares of the company were exchanged, compared to its average volume of 708,988. The stock’s fifty day moving average is $531.17 and its 200-day moving average is $493.81. The company has a market cap of $72.80 billion, a PE ratio of 25.06, a PEG ratio of 1.41 and a beta of 0.45. McKesson has a 12 month low of $373.28 and a 12 month high of $566.01.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $7.19 earnings per share. As a group, equities research analysts expect that McKesson will post 27.59 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On McKesson

Institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after purchasing an additional 708,438 shares during the period. Morgan Stanley lifted its position in McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Norges Bank acquired a new stake in McKesson in the fourth quarter worth about $1,024,140,000. Putnam Investments LLC lifted its holdings in shares of McKesson by 3.2% in the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after buying an additional 62,242 shares during the period. Finally, Northern Trust Corp raised its position in shares of McKesson by 3.3% during the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after purchasing an additional 50,265 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.