McKesson (NYSE:MCK) Given New $945.00 Price Target at Citigroup

McKesson (NYSE:MCK) had its price objective cut by investment analysts at Citigroup from $975.00 to $945.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 26.32% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Raymond James Financial set a $970.00 price target on shares of McKesson in a report on Thursday, March 5th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. TD Cowen upped their target price on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Barclays increased their target price on McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Finally, Robert W. Baird set a $968.00 price objective on McKesson in a report on Wednesday, January 14th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $968.87.

McKesson Trading Up 1.5%

Shares of NYSE MCK traded up $10.95 during mid-day trading on Thursday, reaching $748.13. 543,861 shares of the company’s stock were exchanged, compared to its average volume of 827,775. McKesson has a twelve month low of $637.00 and a twelve month high of $999.00. The firm has a market capitalization of $89.93 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 1.10 and a beta of 0.35. The business has a fifty day simple moving average of $864.13 and a 200 day simple moving average of $858.29.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.McKesson’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts predict that McKesson will post 44.29 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Maria Martinez sold 349 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the completion of the transaction, the director directly owned 301 shares of the company’s stock, valued at approximately $282,900.87. This trade represents a 53.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michele Lau sold 2,725 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 3,264 shares of company stock valued at $3,205,315. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On McKesson

Several hedge funds have recently bought and sold shares of MCK. GGM Financials LLC bought a new stake in McKesson in the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of McKesson during the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in McKesson in the 4th quarter valued at $26,000. State of Wyoming bought a new stake in McKesson in the 2nd quarter valued at $29,000. Finally, Hopwood Financial Services Inc. acquired a new stake in McKesson during the 3rd quarter valued at $31,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.