McGinnis Gun damage is affected by lag?

[The Master Mind]

I am not really sure about this, but I noticed it several times where very early game I could dump a full magazine as McGinnis into an enemy at close range with very minimal effect (barely taking quarter of his health), while he could hit me with just couple of shots and I would already lose half my health.
this is happening very early even before either of players buy any items or with just Basic Mag and Monster Round.

I'm only noticing this when i have high latency (~100ms)