Shares of McKesson Co. (NYSE:MCK - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fifteen ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $686.69.
A number of brokerages have weighed in on MCK. Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st. Mizuho raised their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Wells Fargo & Company raised their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Bank of America raised their price objective on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th.
Get Our Latest Stock Report on MCK
Insider Activity at McKesson
In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Britt J. Vitalone sold 6,336 shares of McKesson 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 completion of the transaction, the chief financial officer now directly owns 14,760 shares of the company's stock, valued at approximately $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,127 shares of company stock worth $5,834,498. Company insiders own 0.11% of the company's stock.
Institutional Trading of McKesson
A number of large investors have recently made changes to their positions in the company. CVA Family Office LLC increased its stake in shares of McKesson by 6.0% during the first quarter. CVA Family Office LLC now owns 265 shares of the company's stock worth $178,000 after buying an additional 15 shares during the period. Palisade Asset Management LLC increased 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 buying an additional 15 shares during the period. SteelPeak Wealth LLC increased its stake in shares of McKesson by 0.5% during the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock worth $1,867,000 after buying an additional 15 shares during the period. Parallel Advisors LLC increased its stake in shares of McKesson by 0.6% during the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock worth $1,683,000 after buying an additional 16 shares during the period. Finally, Frank Rimerman Advisors LLC increased its stake in shares of McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after buying an additional 17 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
McKesson Stock Performance
McKesson stock traded down $8.77 during trading on Monday, reaching $711.61. The company had a trading volume of 638,870 shares, compared to its average volume of 917,912. The firm's 50-day simple moving average is $691.98 and its 200 day simple moving average is $635.78. McKesson has a 1-year low of $464.42 and a 1-year high of $731.00. The firm has a market capitalization of $89.03 billion, a PE ratio of 32.58, 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 data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted $6.18 EPS. Analysts anticipate that McKesson will post 32.77 EPS for the current year.
McKesson Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's dividend payout ratio (DPR) is currently 10.99%.
About McKesson
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Get Free ReportMcKesson 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.
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