McKesson Corporation (NYSE:MCK) Receives Average Recommendation of "Moderate Buy" from Brokerages

McKesson Corporation (NYSE:MCK - Get Free Report) has received an average recommendation of "Moderate Buy" from the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $694.38.

Several equities analysts have recently weighed in on MCK shares. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 14th. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. UBS Group upped their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Finally, Bank of America boosted their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the sale, the chief executive officer now directly owns 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock worth $23,526,451 in the last three months. Corporate insiders own 0.11% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in McKesson during the fourth quarter valued at about $26,000. Millstone Evans Group LLC purchased a new stake in shares of McKesson during the fourth quarter worth about $28,000. Bank of Jackson Hole Trust grew its position in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after purchasing an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake in McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after purchasing an additional 41 shares during the period. Finally, Atala Financial Inc purchased a new position in McKesson in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

NYSE:MCK opened at $729.28 on Friday. The firm has a market capitalization of $91.24 billion, a P/E ratio of 28.23, a PEG ratio of 1.46 and a beta of 0.49. McKesson has a one year low of $464.42 and a one year high of $732.99. The company's 50-day simple moving average is $707.81 and its 200 day simple moving average is $647.13.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.18 EPS. On average, equities research analysts expect that McKesson will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is 10.99%.

About McKesson

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.

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