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

McKesson (NYSE:MCK) had its price target lowered by Citigroup from $713.00 to $677.00 in a research report sent to investors on Friday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on MCK. Bank of America dropped their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, StockNews.com raised 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Stock Down 1.4 %

Shares of MCK opened at $581.73 on Friday. McKesson has a 12-month low of $464.42 and a 12-month high of $637.51. The business’s fifty day moving average is $592.54 and its 200 day moving average is $561.46. The stock 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 issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating 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 business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the business earned $6.23 EPS. The business’s revenue was up 21.3% on a year-over-year basis. On average, analysts expect that McKesson will post 32.73 EPS for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling

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

Institutional Trading of McKesson

Several hedge funds and other institutional investors have recently bought and sold shares of MCK. Wolff Wiese Magana LLC lifted its position in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in McKesson in the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the third quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new stake in McKesson in the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC lifted its position in McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares during the last quarter. Institutional investors 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.