McKesson (NYSE:MCK) Trading 2.9% Higher on Analyst Upgrade

Shares of McKesson Co. (NYSE:MCK - Get Rating) shot up 2.9% on Friday after Robert W. Baird raised their price target on the stock from $352.00 to $380.00. The stock traded as high as $328.91 and last traded at $324.41. 8,904 shares traded hands during trading, a decline of 99% from the average session volume of 1,015,115 shares. The stock had previously closed at $315.23.

MCK has been the topic of several other research reports. Mizuho upped their price objective on McKesson from $250.00 to $280.00 and gave the company a "neutral" rating in a research note on Monday, February 7th. Deutsche Bank Aktiengesellschaft lowered McKesson from a "buy" rating to a "hold" rating and increased their target price for the stock from $262.00 to $270.00 in a research note on Friday, February 4th. They noted that the move was a valuation call. Morgan Stanley increased their target price on McKesson from $292.00 to $370.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 12th. TheStreet upgraded McKesson from a "d" rating to a "c+" rating in a research note on Wednesday, February 2nd. Finally, Cowen increased their target price on McKesson from $325.00 to $361.00 in a research note on Monday, April 18th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $303.57.

In related news, EVP Tracy Faber sold 2,034 shares of the firm's stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $265.23, for a total transaction of $539,477.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nancy Flores sold 3,298 shares of McKesson stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $311.09, for a total transaction of $1,025,974.82. Following the sale, the executive vice president now owns 5,440 shares of the company's stock, valued at $1,692,329.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,208 shares of company stock valued at $5,059,966. 0.28% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MCK. Putnam Investments LLC raised its holdings in McKesson by 486.4% during the third quarter. Putnam Investments LLC now owns 2,323,190 shares of the company's stock worth $463,198,000 after purchasing an additional 1,926,999 shares in the last quarter. Norges Bank acquired a new position in shares of McKesson in the 4th quarter valued at $386,729,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of McKesson by 1,401.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,821 shares of the company's stock valued at $74,333,000 after acquiring an additional 347,996 shares during the period. Samlyn Capital LLC acquired a new position in shares of McKesson in the 4th quarter valued at $79,518,000. Finally, Man Group plc increased its stake in McKesson by 231.4% in the 3rd quarter. Man Group plc now owns 414,210 shares of the company's stock valued at $82,585,000 after buying an additional 289,231 shares during the period. 85.45% of the stock is owned by institutional investors and hedge funds.

The company has a market capitalization of $49.49 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 1.14 and a beta of 0.67. The firm's 50 day simple moving average is $304.62 and its 200-day simple moving average is $262.19.

McKesson (NYSE:MCK - Get Rating) last issued its earnings results on Thursday, May 5th. The company reported $5.83 EPS for the quarter, missing the consensus estimate of $6.04 by ($0.21). McKesson had a negative return on equity of 1,931.18% and a net margin of 0.55%. The company had revenue of $66.10 billion for the quarter, compared to analysts' expectations of $63.82 billion. During the same quarter in the previous year, the firm posted $5.05 earnings per share. McKesson's revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts forecast that McKesson Co. will post 23.91 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 1st will be given a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $1.88 annualized dividend and a dividend yield of 0.57%. McKesson's dividend payout ratio is presently 21.15%.

McKesson Company Profile (NYSE:MCK)

McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

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