McKesson (NYSE:MCK) Given New $675.00 Price Target at Evercore ISI

McKesson (NYSE:MCK) had its target price increased by Evercore ISI from $650.00 to $675.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts also recently issued reports on MCK. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Citigroup cut their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Robert W. Baird upgraded 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 report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, McKesson currently has an average rating of “Buy” and an average target price of $645.79.

McKesson Trading Down 1.3 %

Shares of NYSE:MCK opened at $598.85 on Thursday. The company has a market cap of $76.02 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company has a 50-day moving average price of $589.61 and a 200-day moving average price of $562.56. McKesson has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. As a group, research analysts forecast that McKesson will post 32.72 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 14.71%.

Insider Activity

In other 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 sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On McKesson

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new stake in McKesson in the fourth quarter worth approximately $32,000. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the third quarter worth approximately $29,000. Crews Bank & Trust purchased a new stake in McKesson in the fourth quarter worth approximately $33,000. Wolff Wiese Magana LLC boosted its holdings in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the third quarter worth approximately $31,000. Hedge funds and other 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.