McKesson (NYSE:MCK) Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of McKesson (NYSE:MCK - Free Report) from a buy rating to a strong-buy rating in a research report released on Saturday.

Several other equities analysts also recently weighed in on the stock. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. UBS Group lifted 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 lifted their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Morgan Stanley lifted their target price on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $696.42.

McKesson Stock Up 2.0%

NYSE MCK traded up $13.85 during trading hours on Friday, reaching $719.30. 392,096 shares of the company were exchanged, compared to its average volume of 924,875. McKesson has a 1 year low of $464.42 and a 1 year high of $736.96. The business's 50 day simple moving average is $714.17 and its 200-day simple moving average is $657.15. The stock has a market capitalization of $89.99 billion, a P/E ratio of 27.85, a P/E/G ratio of 1.44 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the company posted $6.18 earnings per share. As a group, sell-side analysts anticipate that McKesson will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a $0.71 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. McKesson's dividend payout ratio is presently 10.99%.

Insiders Place Their Bets

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the business's stock in a transaction that occurred on 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 owned 14,760 shares of the company's stock, valued at $10,587,348. The trade was a 30.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 19,370 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,117 shares of company stock worth $23,526,451. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McKesson

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CVA Family Office LLC lifted its holdings in shares of McKesson by 6.0% in the 1st quarter. CVA Family Office LLC now owns 265 shares of the company's stock worth $178,000 after acquiring an additional 15 shares during the last quarter. Palisade Asset Management LLC lifted its holdings in shares of McKesson by 2.1% in the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock worth $481,000 after acquiring an additional 15 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of McKesson by 0.5% in the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock worth $1,867,000 after acquiring an additional 15 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of McKesson by 0.6% in the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock worth $1,683,000 after acquiring an additional 16 shares during the last quarter. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of McKesson by 2.2% in 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 during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

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.