Evercore ISI Forecasts Strong Price Appreciation for McKesson (NYSE:MCK) Stock

McKesson (NYSE:MCK) had its target price increased by analysts at Evercore ISI from $560.00 to $680.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 23.79% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company reduced their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Citigroup cut their price target on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $625.64.

McKesson Trading Up 4.6 %

Shares of McKesson stock opened at $549.31 on Thursday. The stock has a 50-day moving average price of $510.96 and a 200 day moving average price of $550.61. The company has a market cap of $71.23 billion, a P/E ratio of 24.57, a P/E/G ratio of 1.23 and a beta of 0.44. McKesson has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.27 EPS. On average, equities analysts forecast that McKesson will post 31.92 earnings per share for the current fiscal year.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

Institutional investors have recently modified their holdings of the company. Distillate Capital Partners LLC grew its holdings in shares of McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp grew its holdings in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC grew its holdings in shares of McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after purchasing an additional 133 shares in the last quarter. Councilmark Asset Management LLC acquired a new stake in shares of McKesson during the 1st quarter worth approximately $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new stake in shares of McKesson during the 2nd quarter worth approximately $238,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.