McKesson (NYSE:MCK) Given New $770.00 Price Target at Mizuho

Key Points

• Mizuho has raised its price target on McKesson from $750.00 to $770.00, indicating a potential upside of 1.00% based on the stock's previous close.
• McKesson's stock was up 2.8% during mid-day trading, reaching $762.37, with its 52-week range between $472.29 and $770.00.
• Several analysts have differing ratings on McKesson, with one analyst rating it as a Strong Buy, while nine rate it as Buy and three as Hold, resulting in an average target price of $820.70.

McKesson (NYSE:MCK - Get Free Report) had its target price hoisted by stock analysts at Mizuho from $750.00 to $770.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Mizuho's price objective would indicate a potential upside of 1.00% from the company's previous close.

A number of other equities analysts also recently commented on MCK. Cowen reaffirmed a "buy" rating on shares of McKesson in a report on Wednesday. Morgan Stanley raised their price objective on shares of McKesson from $810.00 to $857.00 and gave the stock an "overweight" rating in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of McKesson from $772.00 to $816.00 and gave the stock an "equal weight" rating in a report on Wednesday. Wall Street Zen downgraded shares of McKesson from a "buy" rating to a "hold" rating in a report on Saturday. Finally, UBS Group raised their price objective on shares of McKesson from $820.00 to $860.00 and gave the stock a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $820.70.

McKesson Stock Up 2.8%

McKesson stock traded up $21.06 during mid-day trading on Wednesday, reaching $762.37. The company had a trading volume of 190,882 shares, compared to its average volume of 868,686. McKesson has a 52 week low of $472.29 and a 52 week high of $770.00. The company has a 50 day moving average of $695.33 and a 200-day moving average of $697.47. The firm has a market cap of $94.82 billion, a price-to-earnings ratio of 30.35, a PEG ratio of 1.39 and a beta of 0.51.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same period last year, the company earned $7.88 earnings per share. McKesson's revenue for the quarter was up 23.4% on a year-over-year basis. On average, analysts predict that McKesson will post 32.77 earnings per share for the current fiscal year.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is owned by corporate insiders.

Institutional Trading of McKesson

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Caldwell Trust Co acquired a new stake in shares of McKesson in the second quarter valued at approximately $1,485,000. Valeo Financial Advisors LLC raised its holdings in shares of McKesson by 8.1% in the second quarter. Valeo Financial Advisors LLC now owns 1,542 shares of the company's stock valued at $1,130,000 after purchasing an additional 116 shares during the last quarter. WT Wealth Management increased its holdings in McKesson by 2.2% during the second quarter. WT Wealth Management now owns 833 shares of the company's stock worth $610,000 after buying an additional 18 shares during the last quarter. Osaic Holdings Inc. increased its holdings in McKesson by 49.8% during the second quarter. Osaic Holdings Inc. now owns 38,670 shares of the company's stock worth $27,764,000 after buying an additional 12,847 shares during the last quarter. Finally, American Trust acquired a new position in McKesson during the second quarter worth $259,000. 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.

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