Shares of McKesson Corp. (NYSE:MCK) have been given a consensus recommendation of “Buy” by the twenty research firms that are covering the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $206.36.
MCK has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of McKesson Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. Goldman Sachs Group Inc. lowered shares of McKesson Corp. from a “buy” rating to a “neutral” rating and cut their price target for the stock from $210.00 to $189.00 in a report on Friday, September 16th. Morgan Stanley lifted their price target on shares of McKesson Corp. from $199.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of McKesson Corp. in a report on Thursday, June 30th. Finally, Mizuho cut their price target on shares of McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating on the stock in a report on Monday, September 26th.
McKesson Corp. (NYSE:MCK) opened at 161.00 on Wednesday. The firm’s 50-day moving average price is $171.17 and its 200-day moving average price is $179.23. McKesson Corp. has a 12-month low of $148.29 and a 12-month high of $202.20. The company has a market cap of $36.34 billion, a PE ratio of 16.72 and a beta of 0.93.
McKesson Corp. (NYSE:MCK) last issued 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 firm had revenue of $49.73 billion for the quarter, compared to analyst estimates of $50.32 billion. During the same quarter last year, the business posted $3.14 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that McKesson Corp. will post $13.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Tuesday, August 30th. McKesson Corp.’s payout ratio is 11.64%.
In other McKesson Corp. news, Director M Christine Jacobs sold 915 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $193.78, for a total value of $177,308.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Erin M. Lampert sold 1,739 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $165.94, for a total transaction of $288,569.66. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Seven Eight Capital LLC bought a new position in McKesson Corp. during the first quarter worth $110,000. Kelman Lazarov Inc. bought a new position in McKesson Corp. during the second quarter worth $115,000. Welch Group LLC bought a new position in McKesson Corp. during the second quarter worth $126,000. Winslow Evans & Crocker Inc. boosted its position in McKesson Corp. by 14.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 816 shares of the company’s stock worth $152,000 after buying an additional 101 shares during the last quarter. Finally, Carroll Financial Associates Inc. boosted its position in McKesson Corp. by 5.7% in the third quarter. Carroll Financial Associates Inc. now owns 928 shares of the company’s stock worth $154,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 84.75% of the company’s stock.
About McKesson Corp.
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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