McKesson Corporation (NYSE:MCK) – Stock analysts at Leerink Swann boosted their Q4 2018 earnings per share (EPS) estimates for shares of McKesson Corporation in a research report issued on Thursday. Leerink Swann analyst D. Larsen now forecasts that the company will post earnings of $3.78 per share for the quarter, up from their previous forecast of $3.75. Leerink Swann currently has a “Market Perform” rating and a $170.00 price target on the stock.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. The company had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.50 EPS.
A number of other analysts also recently weighed in on MCK. Jefferies Group LLC started coverage on shares of McKesson Corporation in a report on Wednesday, May 17th. They issued a “hold” rating and a $153.00 price target for the company. UBS AG raised their price objective on shares of McKesson Corporation from $145.00 to $156.00 and gave the stock a “neutral” rating in a report on Friday, May 19th. Vetr downgraded shares of McKesson Corporation from a “buy” rating to a “hold” rating and set a $157.10 price objective for the company. in a report on Monday, May 22nd. J P Morgan Chase & Co raised shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price objective for the company in a report on Tuesday, May 23rd. Finally, Zacks Investment Research raised shares of McKesson Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $172.31.
Shares of McKesson Corporation (NYSE MCK) opened at 156.94 on Monday. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $181.82. The stock has a 50 day moving average of $153.75 and a 200-day moving average of $152.84. The firm has a market cap of $33.00 billion, a price-to-earnings ratio of 7.12 and a beta of 1.16.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a dividend of $0.34 per share. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a yield of 0.87%. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is currently 6.07%.
In other McKesson Corporation news, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $162.55, for a total value of $176,041.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,066 shares of company stock valued at $473,627 over the last three months. 1.20% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MCK. Shikiar Asset Management Inc. increased its position in McKesson Corporation by 26.1% in the 1st quarter. Shikiar Asset Management Inc. now owns 35,630 shares of the company’s stock valued at $5,283,000 after acquiring an additional 7,375 shares in the last quarter. Tocqueville Asset Management L.P. increased its position in McKesson Corporation by 8.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 5,001 shares of the company’s stock valued at $741,000 after acquiring an additional 406 shares in the last quarter. Canal Capital Management LLC acquired a new stake in McKesson Corporation in the 1st quarter valued at about $483,000. Advisor Partners LLC increased its position in McKesson Corporation by 22.1% in the 1st quarter. Advisor Partners LLC now owns 4,552 shares of the company’s stock valued at $675,000 after acquiring an additional 823 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in McKesson Corporation in the 1st quarter valued at about $314,000. Hedge funds and other institutional investors own 85.28% of the company’s stock.
About McKesson Corporation
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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