McKesson (NYSE:MCK) Given New $630.00 Price Target at Citigroup

McKesson (NYSE:MCK) had its target price lowered by stock analysts at Citigroup from $670.00 to $630.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 23.95% from the company’s current price.

Several other analysts also recently issued reports on the stock. Robert W. Baird reduced their price target on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Barclays increased their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Leerink Partners cut their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Finally, Evercore ISI lowered their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $622.07.

McKesson Price Performance

McKesson stock traded down $1.17 during mid-day trading on Tuesday, reaching $508.25. The company had a trading volume of 344,422 shares, compared to its average volume of 765,262. The stock’s 50-day simple moving average is $573.21 and its 200-day simple moving average is $557.99. The company has a market capitalization of $65.91 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.16 and a beta of 0.44. McKesson has a 1 year low of $417.65 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last issued 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. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the previous year, the firm posted $7.27 earnings per share. McKesson’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts forecast that McKesson will post 32.14 EPS for the current fiscal year.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is currently owned by insiders.

Institutional Trading of McKesson

Several hedge funds have recently added to or reduced their stakes in the business. RFP Financial Group LLC raised its stake in shares of McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after purchasing an additional 17 shares in the last quarter. Modera Wealth Management LLC raised its holdings in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares in the last quarter. Larson Financial Group LLC lifted its position in McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after purchasing an additional 17 shares during the period. First Western Trust Bank boosted its stake in McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after purchasing an additional 18 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in shares of McKesson by 1.7% in the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock worth $608,000 after buying an additional 19 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

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.