McKesson (NYSE:MCK) Given New $642.00 Price Target at Morgan Stanley

McKesson (NYSE:MCK) had its target price boosted by analysts at Morgan Stanley from $612.00 to $642.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 12.44% from the company’s previous close.

Several other equities analysts also recently commented on MCK. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Leerink Partners dropped their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $650.14.

McKesson Stock Performance

Shares of MCK opened at $570.98 on Tuesday. McKesson has a 52-week low of $444.51 and a 52-week high of $637.51. The firm has a market cap of $72.48 billion, a price-to-earnings ratio of 29.57, a PEG ratio of 1.25 and a beta of 0.49. The business’s fifty day moving average is $568.47 and its 200-day moving average is $562.84.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the firm earned $6.23 earnings per share. The business’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, research analysts forecast that McKesson will post 32.73 EPS for the current fiscal year.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. The trade was a 28.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On McKesson

A number of hedge funds have recently added to or reduced their stakes in MCK. Wolff Wiese Magana LLC grew its position in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in McKesson in the third quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the third quarter valued at $31,000. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the third quarter valued at about $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in shares of McKesson during the 2nd quarter worth about $52,000. 85.07% of the stock is currently owned by institutional investors.

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.