McKesson Corp. (NYSE:MCK) had its target price cut by equities researchers at Mizuho from $197.00 to $183.00 in a report issued on Monday. The brokerage presently has a “neutral” rating on the stock. Mizuho’s target price would indicate a potential upside of 10.00% from the stock’s previous close.
A number of other analysts also recently issued reports on MCK. Morgan Stanley reiterated a “buy” rating on shares of McKesson Corp. in a report on Tuesday, May 31st. Raymond James Financial Inc. downgraded shares of McKesson Corp. from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, June 1st. FBR & Co reiterated a “buy” rating on shares of McKesson Corp. in a report on Saturday, June 4th. Bank of America Corp. reiterated a “neutral” rating and issued a $190.00 price target on shares of McKesson Corp. in a report on Tuesday, June 7th. Finally, Vetr downgraded shares of McKesson Corp. from a “buy” rating to a “hold” rating and set a $188.01 price target on the stock. in a report on Monday, June 13th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $201.17.
Shares of McKesson Corp. (NYSE:MCK) opened at 166.36 on Monday. McKesson Corp. has a 12-month low of $148.29 and a 12-month high of $202.20. The stock’s 50 day moving average is $181.98 and its 200-day moving average is $179.01. The stock has a market capitalization of $37.55 billion, a price-to-earnings ratio of 17.28 and a beta of 0.95.
McKesson Corp. (NYSE:MCK) last released its earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. McKesson Corp. had a net margin of 1.15% and a return on equity of 31.62%. The company had revenue of $49.73 billion for the quarter, compared to analysts’ expectations of $50.32 billion. During the same quarter in the previous year, the company earned $3.14 EPS. McKesson Corp.’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts expect that McKesson Corp. will post $13.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be given a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.12 annualized dividend and a yield of 0.67%. McKesson Corp.’s dividend payout ratio (DPR) is 11.64%.
In other McKesson Corp. news, CFO James A. Beer sold 5,500 shares of the business’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of $199.00, for a total value of $1,094,500.00. Following the completion of the sale, the chief financial officer now directly owns 12,412 shares of the company’s stock, valued at approximately $2,469,988. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman John H. Hammergren sold 100,500 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $184.22, for a total transaction of $18,514,110.00. Following the completion of the sale, the chairman now directly owns 100,500 shares of the company’s stock, valued at $18,514,110. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Bowling Portfolio Management LLC bought a new stake in McKesson Corp. during the first quarter valued at about $2,675,000. Badgley Phelps & Bell Inc. boosted its stake in McKesson Corp. by 4.6% in the first quarter. Badgley Phelps & Bell Inc. now owns 40,915 shares of the company’s stock valued at $6,434,000 after buying an additional 1,812 shares during the period. BTC Capital Management Inc. boosted its stake in McKesson Corp. by 11.4% in the first quarter. BTC Capital Management Inc. now owns 11,022 shares of the company’s stock valued at $1,730,000 after buying an additional 1,125 shares during the period. Virginia Retirement System bought a new stake in McKesson Corp. during the first quarter valued at about $587,000. Finally, Mn Services Vermogensbeheer B.V. bought a new stake in McKesson Corp. during the first quarter valued at about $795,000. 84.77% of the stock is owned by institutional investors.
McKesson Corp. Company Profile
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.
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