McKesson (NYSE:MCK) Stock Price Down 1.2%

McKesson Co. (NYSE:MCK - Get Free Report)'s stock price fell 1.2% on Tuesday . The stock traded as low as $557.05 and last traded at $557.05. 155,208 shares were traded during mid-day trading, a decline of 78% from the average session volume of 703,974 shares. The stock had previously closed at $564.00.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCK. Mizuho lifted their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $547.00 to $545.00 and set a "buy" rating for the company in a research note on Thursday, May 9th. StockNews.com upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 4th. Wells Fargo & Company boosted their price target on shares of McKesson from $502.00 to $551.00 and gave the company an "equal weight" rating in a research note on Thursday, May 9th. Finally, SVB Leerink began coverage on shares of McKesson in a research note on Monday, February 26th. They set an "outperform" rating and a $600.00 price target for the company. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $571.47.

McKesson Price Performance

The firm has a market capitalization of $71.80 billion, a PE ratio of 24.68, a P/E/G ratio of 1.33 and a beta of 0.45. The company's fifty day simple moving average is $536.78 and its 200 day simple moving average is $501.09.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to analysts' expectations of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $7.19 earnings per share. On average, analysts anticipate that McKesson Co. will post 31.55 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, June 3rd. McKesson's dividend payout ratio (DPR) is presently 11.08%.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,473 shares of the company's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the company's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan R. Salka sold 606 shares of the company's stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Insiders have sold a total of 4,080 shares of company stock worth $2,160,489 over the last ninety days. Company insiders own 0.21% of the company's stock.

Institutional Investors Weigh In On McKesson

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sachetta LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $27,000. LRI Investments LLC bought a new position in shares of McKesson in the first quarter worth approximately $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson in the first quarter worth approximately $29,000. BKM Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $31,000. Finally, Richardson Financial Services Inc. bought a new position in shares of McKesson in the fourth quarter worth approximately $31,000. 85.07% of the stock is currently owned by 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.