McKesson (NYSE:MCK) Price Target Increased to $620.00 by Analysts at Citigroup

McKesson (NYSE:MCK - Get Free Report) had its target price upped by Citigroup from $575.00 to $620.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target suggests a potential upside of 15.41% from the stock's previous close.

MCK has been the subject of several other reports. Morgan Stanley raised their price target on McKesson from $522.00 to $548.00 and gave the company an "overweight" rating in a report on Monday, April 15th. Argus upped their target price on shares of McKesson from $510.00 to $570.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. Barclays initiated coverage on shares of McKesson in a research report on Wednesday, January 3rd. They set an "overweight" rating and a $537.00 price target for the company. SVB Leerink initiated coverage on McKesson in a research report on Monday, February 26th. They issued an "outperform" rating and a $600.00 price objective on the stock. Finally, UBS Group lifted their target price on McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $536.71.

McKesson Stock Up 0.2 %

Shares of NYSE:MCK traded up $1.12 during midday trading on Tuesday, reaching $537.21. The company's stock had a trading volume of 664,707 shares, compared to its average volume of 692,815. The firm has a 50 day moving average of $529.26 and a 200-day moving average of $491.02. The firm has a market capitalization of $70.59 billion, a P/E ratio of 24.34, a PEG ratio of 1.44 and a beta of 0.45. McKesson has a 12-month low of $352.34 and a 12-month high of $544.81.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the previous year, the firm posted $6.90 earnings per share. McKesson's quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts predict that McKesson will post 27.59 EPS for the current year.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the firm's stock in a transaction on Tuesday, February 13th. The stock was 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 owns 1,511 shares of the company's stock, valued at approximately $749,456. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MCK. Norden Group LLC acquired a new stake in shares of McKesson in the first quarter worth $295,000. Van ECK Associates Corp grew its position in McKesson by 17.7% during the 1st quarter. Van ECK Associates Corp now owns 64,639 shares of the company's stock worth $34,701,000 after purchasing an additional 9,729 shares during the period. Fortis Group Advisors LLC raised its stake in shares of McKesson by 268.8% during the 1st quarter. Fortis Group Advisors LLC now owns 9,718 shares of the company's stock valued at $5,217,000 after buying an additional 7,083 shares during the last quarter. HB Wealth Management LLC lifted its holdings in shares of McKesson by 7.9% in the 1st quarter. HB Wealth Management LLC now owns 6,471 shares of the company's stock valued at $3,474,000 after buying an additional 471 shares during the period. Finally, SpiderRock Advisors LLC purchased a new stake in shares of McKesson in the first quarter worth about $3,462,000. 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.