McKesson (NYSE:MCK) Given New $345.00 Price Target at Mizuho

McKesson (NYSE:MCKGet Rating) had its price target raised by research analysts at Mizuho from $331.00 to $345.00 in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective would suggest a potential downside of 0.49% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upgraded shares of McKesson from a “hold” rating to a “buy” rating and increased their target price for the company from $343.00 to $378.00 in a research note on Tuesday, June 7th. Robert W. Baird raised their price target on shares of McKesson from $352.00 to $380.00 in a research note on Friday, May 6th. Argus cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. UBS Group raised their price target on shares of McKesson to $380.00 and gave the stock a “hold” rating in a research note on Thursday, May 19th. Finally, Cowen raised their price target on shares of McKesson from $325.00 to $361.00 and gave the stock an “outperform” rating in a research note on Monday, April 18th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $332.85.

McKesson Stock Performance

NYSE MCK opened at $346.69 on Thursday. The firm has a 50-day simple moving average of $324.08 and a 200 day simple moving average of $306.13. McKesson has a twelve month low of $192.38 and a twelve month high of $348.49. The stock has a market cap of $49.78 billion, a PE ratio of 36.65, a PEG ratio of 1.52 and a beta of 0.63.

McKesson (NYSE:MCKGet Rating) last released its earnings results on Thursday, May 5th. The company reported $5.83 earnings per share for the quarter, missing the consensus estimate of $6.06 by ($0.23). McKesson had a net margin of 0.52% and a negative return on equity of 350.22%. The company had revenue of $66.10 billion during the quarter, compared to the consensus estimate of $63.82 billion. During the same quarter in the previous year, the business posted $5.05 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. Research analysts forecast that McKesson will post 23.27 earnings per share for the current fiscal year.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,232 shares of the firm’s stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $308.31, for a total value of $996,457.92. Following the completion of the sale, the chief executive officer now owns 82,039 shares of the company’s stock, valued at $25,293,444.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,232 shares of McKesson stock in a transaction on Monday, June 13th. The shares were sold at an average price of $308.31, for a total transaction of $996,457.92. Following the completion of the sale, the chief executive officer now owns 82,039 shares of the company’s stock, valued at approximately $25,293,444.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Britt J. Vitalone sold 27,281 shares of McKesson stock in a transaction on Friday, May 27th. The stock was sold at an average price of $333.16, for a total transaction of $9,088,937.96. Following the sale, the chief financial officer now directly owns 13,693 shares of the company’s stock, valued at approximately $4,561,959.88. The disclosure for this sale can be found here. Insiders sold a total of 72,628 shares of company stock valued at $23,779,745 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of McKesson

Institutional investors have recently bought and sold shares of the business. Cornerstone Advisory LLC bought a new position in shares of McKesson during the fourth quarter worth $25,000. Covestor Ltd boosted its position in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Riverview Trust Co bought a new position in shares of McKesson during the first quarter worth $28,000. Core Alternative Capital boosted its position in shares of McKesson by 1,257.1% during the first quarter. Core Alternative Capital now owns 95 shares of the company’s stock worth $29,000 after purchasing an additional 88 shares in the last quarter. Finally, Lansing Street Advisors bought a new position in shares of McKesson during the first quarter worth $31,000. Institutional investors and hedge funds own 85.45% of the company’s stock.

About McKesson

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). 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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