McKesson (NYSE:MCK) Given New $596.00 Price Target at Barclays

McKesson (NYSE:MCK - Free Report) had its target price raised by Barclays from $571.00 to $596.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird raised their price objective on shares of McKesson from $603.00 to $671.00 and gave the company an outperform rating in a research report on Wednesday. SVB Leerink assumed coverage on McKesson in a research note on Monday, February 26th. They issued an outperform rating and a $600.00 price target on the stock. UBS Group lifted their price objective on McKesson from $620.00 to $630.00 and gave the stock a buy rating in a research note on Wednesday. TD Cowen increased their target price on McKesson from $563.00 to $652.00 and gave the company a buy rating in a research note on Wednesday. Finally, Mizuho boosted their target price on McKesson from $450.00 to $505.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $569.86.

McKesson Price Performance

Shares of McKesson stock traded down $2.53 during trading on Wednesday, hitting $543.22. 1,378,614 shares of the company's stock traded hands, compared to its average volume of 713,234. McKesson has a twelve month low of $373.28 and a twelve month high of $566.01. The company has a market cap of $71.38 billion, a PE ratio of 24.61, a PEG ratio of 1.41 and a beta of 0.45. The firm's fifty day moving average price is $531.17 and its 200 day moving average price is $493.81.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson's dividend payout ratio is 11.24%.

Insider Activity at McKesson

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

Institutional Investors Weigh In On McKesson

Hedge funds have recently bought and sold shares of the company. Lindbrook Capital LLC grew its stake in McKesson by 1.7% in the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company's stock valued at $608,000 after buying an additional 19 shares during the last quarter. KCM Investment Advisors LLC raised its position in shares of McKesson by 1.4% in the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company's stock valued at $727,000 after buying an additional 19 shares in the last quarter. TCI Wealth Advisors Inc. lifted its holdings in shares of McKesson by 1.3% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,531 shares of the company's stock worth $822,000 after acquiring an additional 19 shares during the period. Douglass Winthrop Advisors LLC boosted its stake in shares of McKesson by 1.4% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company's stock valued at $700,000 after purchasing an additional 21 shares in the last quarter. Finally, Addison Advisors LLC grew its holdings in shares of McKesson by 7.9% during 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. 85.07% of the stock is currently 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.