McKesson Co. (NYSE:MCK) Given Consensus Recommendation of "Moderate Buy" by Brokerages

McKesson Co. (NYSE:MCK - Get Free Report) has received an average rating of "Moderate Buy" from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $686.69.

A number of equities research analysts have weighed in on MCK shares. Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company boosted their target price on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. UBS Group boosted their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 21st.

Insiders Place Their Bets

In other news, CFO Britt J. Vitalone sold 6,336 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $4,544,812.80. Following the sale, the chief financial officer now directly owns 14,760 shares in the company, valued at $10,587,348. The trade was a 30.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 341 shares of McKesson stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the completion of the transaction, the executive vice president now owns 2,800 shares of the company's stock, valued at approximately $2,010,148. This represents a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,856 shares of company stock valued at $7,793,675 in the last quarter. 0.11% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MCK. CVA Family Office LLC increased its position in shares of McKesson by 6.0% in the 1st quarter. CVA Family Office LLC now owns 265 shares of the company's stock valued at $178,000 after purchasing an additional 15 shares during the last quarter. Palisade Asset Management LLC grew its stake in shares of McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock worth $481,000 after purchasing an additional 15 shares in the last quarter. SteelPeak Wealth LLC increased its holdings in McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock valued at $1,867,000 after buying an additional 15 shares during the last quarter. Parallel Advisors LLC raised its stake in McKesson by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after buying an additional 16 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its position in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after acquiring an additional 17 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

MCK stock traded up $5.46 on Monday, reaching $718.32. 55,893 shares of the company traded hands, compared to its average volume of 911,517. The firm has a fifty day simple moving average of $694.04 and a 200-day simple moving average of $636.97. McKesson has a one year low of $464.42 and a one year high of $731.00. The company has a market cap of $89.87 billion, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. McKesson's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.18 EPS. On average, sell-side analysts forecast that McKesson will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is presently 10.99%.

McKesson Company Profile

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.