McKesson (NYSE:MCK) Upgraded by Wall Street Zen to Strong-Buy Rating

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

MCK has been the topic of a number of other research reports. Bank of America boosted their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. 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. Finally, Mizuho lifted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, McKesson has an average rating of "Moderate Buy" and an average target price of $686.69.

McKesson Trading Up 0.3%

NYSE:MCK traded up $2.47 during trading hours on Friday, hitting $721.27. The company had a trading volume of 727,535 shares, compared to its average volume of 916,014. McKesson has a 1 year low of $464.42 and a 1 year high of $731.00. The company has a 50-day moving average of $695.18 and a 200 day moving average of $637.96. The company has a market cap of $90.24 billion, a P/E ratio of 33.03, a P/E/G ratio of 1.29 and a beta of 0.53.

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

McKesson Announces Dividend

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

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 510 shares of the firm'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 $366,134.10. Following the transaction, the executive vice president now directly owns 5,435 shares of the company's stock, valued at approximately $3,901,840.85. This trade represents a 8.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Britt J. Vitalone sold 1,878 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the sale, the chief financial officer now owns 14,028 shares of the company's stock, valued at $10,070,841.48. This trade represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,856 shares of company stock worth $7,793,675. Corporate insiders own 0.11% of the company's stock.

Institutional Trading of McKesson

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Modern Wealth Management LLC raised its stake in shares of McKesson by 3.7% during the first quarter. Modern Wealth Management LLC now owns 810 shares of the company's stock worth $545,000 after purchasing an additional 29 shares during the last quarter. Strs Ohio acquired a new stake in shares of McKesson in the 1st quarter worth $123,478,000. Ellsworth Advisors LLC purchased a new stake in shares of McKesson in the first quarter valued at about $5,358,000. Jacobi Capital Management LLC increased its stake in shares of McKesson by 2.5% during the first quarter. Jacobi Capital Management LLC now owns 2,271 shares of the company's stock worth $1,528,000 after acquiring an additional 55 shares during the period. Finally, Advisors Capital Management LLC raised its holdings in McKesson by 1.7% during the first quarter. Advisors Capital Management LLC now owns 46,724 shares of the company's stock worth $31,445,000 after purchasing an additional 765 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.