McKesson (NYSE:MCK) Price Target Lowered to $677.00 at Citigroup

McKesson (NYSE:MCK) had its target price trimmed by Citigroup from $713.00 to $677.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on MCK. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Price Performance

NYSE:MCK opened at $581.73 on Friday. The firm’s fifty day moving average price is $592.54 and its two-hundred day moving average price is $561.46. McKesson has a one year low of $464.42 and a one year high of $637.51. The company has a market cap of $73.84 billion, a P/E ratio of 30.13, a P/E/G ratio of 1.25 and a beta of 0.52.

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

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.

Institutional Trading of McKesson

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in shares of McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after buying an additional 138,685 shares during the period. FMR LLC grew its position in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares during the period. Geode Capital Management LLC grew its position in shares of McKesson by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after buying an additional 26,299 shares during the period. Legal & General Group Plc grew its position in shares of McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after buying an additional 36,583 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares during the period. 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.