UBS Group Raises McKesson (NYSE:MCK) Price Target to $980.00

McKesson (NYSE:MCK) had its price target lifted by UBS Group from $920.00 to $980.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 15.19% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company raised their target price on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. Morgan Stanley upped their price target on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup raised their price objective on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $880.15.

McKesson Stock Down 0.9%

MCK stock opened at $850.77 on Thursday. The stock has a market cap of $105.82 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The firm’s 50-day simple moving average is $757.54 and its 200 day simple moving average is $724.05. McKesson has a fifty-two week low of $558.13 and a fifty-two week high of $867.63.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same period in the previous year, the business posted $7.07 EPS. McKesson’s revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that McKesson will post 32.77 EPS for the current fiscal year.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is owned by company insiders.

Institutional Trading of McKesson

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of McKesson by 2.0% in the second quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after acquiring an additional 232,286 shares during the last quarter. Geode Capital Management LLC increased its holdings in McKesson by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock valued at $2,057,065,000 after purchasing an additional 112,224 shares in the last quarter. Alliancebernstein L.P. increased its holdings in McKesson by 150.4% during the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after purchasing an additional 1,362,386 shares in the last quarter. Norges Bank bought a new position in McKesson in the 2nd quarter valued at $1,346,661,000. Finally, Northern Trust Corp boosted its stake in McKesson by 0.7% in the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock worth $1,038,008,000 after purchasing an additional 10,179 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

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.