McKesson Corporation (NYSE:MCK) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of McKesson Corporation (NYSE:MCK - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fourteen brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $706.83.

Several equities research analysts recently weighed in on MCK shares. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Mizuho upped their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Bank of America upped 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. Finally, Evercore ISI upped their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th.

McKesson Price Performance

Shares of MCK opened at $716.46 on Tuesday. The business's fifty day moving average price is $715.87 and its 200 day moving average price is $664.28. McKesson has a 12-month low of $464.42 and a 12-month high of $737.89. The stock has a market capitalization of $89.64 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48.

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, beating the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the company posted $6.18 earnings per share. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, research analysts anticipate that McKesson will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were 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 was Monday, June 2nd. McKesson's dividend payout ratio is presently 10.99%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 341 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the transaction, the executive vice president directly owned 2,800 shares in the company, valued at $2,010,148. The trade was a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the sale, the executive vice president owned 2,544 shares of the company's stock, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,488 shares of company stock worth $37,242,862 in the last quarter. Corporate insiders own 0.08% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC raised its stake in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. Capital A Wealth Management LLC bought a new position in shares of McKesson in the 4th quarter valued at approximately $26,000. Bank of Jackson Hole Trust raised its stake in shares of McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after acquiring an additional 18 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $28,000. Finally, Saudi Central Bank acquired a new stake in McKesson in the 1st quarter valued at approximately $34,000. 85.07% of the stock is owned by institutional investors and hedge funds.

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.

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