UBS Group Raises McKesson (NYSE:MCK) Price Target to $630.00

McKesson (NYSE:MCK) had its price objective hoisted by analysts at UBS Group from $620.00 to $630.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 14.19% from the company’s current price.

MCK has been the subject of several other research reports. SVB Leerink assumed coverage on McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price for the company. Robert W. Baird boosted their price target on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Citigroup raised their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $551.43.

McKesson Price Performance

Shares of MCK traded up $5.98 during trading hours on Wednesday, hitting $551.73. 376,106 shares of the company were exchanged, compared to its average volume of 700,873. The company has a market capitalization of $72.50 billion, a PE ratio of 25.04, a PEG ratio of 1.41 and a beta of 0.45. The firm has a fifty day simple moving average of $531.17 and a 200-day simple moving average of $493.81. McKesson has a one year low of $373.28 and a one year high of $566.01.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.19 EPS. Sell-side analysts expect that McKesson will post 27.59 EPS for the current year.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were 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 directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of McKesson 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On McKesson

A number of institutional investors have recently made changes to their positions in MCK. Brown Advisory Inc. grew its holdings in shares of McKesson by 5.8% in the 3rd quarter. Brown Advisory Inc. now owns 4,066 shares of the company’s stock valued at $1,768,000 after buying an additional 222 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of McKesson by 6.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,926 shares of the company’s stock valued at $15,188,000 after purchasing an additional 2,214 shares in the last quarter. NBT Bank N A NY acquired a new position in shares of McKesson in the 3rd quarter valued at approximately $312,000. Park Avenue Securities LLC bought a new stake in McKesson during the 3rd quarter worth approximately $1,912,000. Finally, Keel Point LLC acquired a new stake in McKesson during the 3rd quarter worth approximately $201,000. 85.07% of the stock is 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.