McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products. This segment also provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices; and consulting, outsourcing, technological, and other services, as well as sells financial, operational, and clinical solutions to pharmacies. The International segment offers distribution and services to wholesale, institutional, and retail customers in 13 European countries and Canada. The Medical-Surgical Solutions segment provides medical-surgical supply distribution, logistics, and other services to healthcare providers. The RxTS segment serves biopharma and life sciences partners and patients to address medication challenges for patients throughout their journeys; connects pharmacies, providers, payers, and biopharma companies to deliver innovative access and adherence solutions; and provides third-party logistics and wholesale distribution support solutions. McKesson Corporation was founded in 1833 and is headquartered in Irving, Texas.
Wall Street Analyst Weigh In
A number of research analysts recently commented on MCK shares. Argus cut McKesson from a "buy" rating to a "hold" rating in a report on Wednesday, July 6th. UBS Group lifted their price objective on McKesson from $380.00 to $400.00 and gave the stock a "buy" rating in a research note on Thursday. Credit Suisse Group lifted their price objective on McKesson from $333.00 to $377.00 in a research note on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft raised McKesson from a "hold" rating to a "buy" rating and boosted their target price for the company from $343.00 to $378.00 in a research report on Tuesday, June 7th. Finally, Cowen boosted their target price on McKesson from $325.00 to $361.00 and gave the company an "outperform" rating in a research report on Monday, April 18th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $332.85.
McKesson Stock Up 2.6 %
Shares of McKesson stock opened at $346.69 on Friday. The stock's fifty day moving average is $324.08 and its two-hundred day moving average is $306.51. The company has a market capitalization of $49.78 billion, a PE ratio of 36.65, a price-to-earnings-growth ratio of 1.52 and a beta of 0.63. McKesson has a 52 week low of $192.38 and a 52 week high of $348.49.
McKesson (NYSE:MCK - Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $5.83 EPS for the quarter, missing the consensus estimate of $6.06 by ($0.23). The business had revenue of $66.10 billion during the quarter, compared to the consensus estimate of $63.82 billion. McKesson had a net margin of 0.52% and a negative return on equity of 350.22%. The business's revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $5.05 EPS. As a group, research analysts anticipate that McKesson will post 23.27 earnings per share for the current year.
McKesson Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 0.62%. This is a boost from McKesson's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, August 31st. McKesson's dividend payout ratio is currently 19.87%.
Insiders Place Their Bets
In other McKesson news, CEO Brian S. Tyler sold 5,438 shares of the company's stock in a transaction on Monday, May 9th. The stock was sold at an average price of $330.93, for a total value of $1,799,597.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other McKesson news, EVP Thomas L. Rodgers sold 160 shares of the company's stock in a transaction on Monday, June 6th. The stock was sold at an average price of $316.42, for a total value of $50,627.20. Following the completion of the sale, the executive vice president now directly owns 3,844 shares in the company, valued at approximately $1,216,318.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 5,438 shares of the company's stock in a transaction on Monday, May 9th. The stock was sold at an average price of $330.93, for a total value of $1,799,597.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,628 shares of company stock worth $23,779,745. 0.21% of the stock is currently owned by company insiders.
