McKesson (NYSE:MCK) Reaches New 52-Week High at $150.17

McKesson Co. (NYSE:MCK) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $150.17 and last traded at $148.78, with a volume of 19426 shares changing hands. The stock had previously closed at $146.49.

MCK has been the topic of several recent analyst reports. Zacks Investment Research lowered McKesson from a “hold” rating to a “sell” rating in a research note on Thursday, May 2nd. Guggenheim initiated coverage on McKesson in a research note on Monday, July 22nd. They issued a “neutral” rating and a $152.00 price target on the stock. Credit Suisse Group initiated coverage on McKesson in a research note on Monday, July 22nd. They issued a “neutral” rating and a $143.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on McKesson in a research note on Monday, July 22nd. They issued an “overweight” rating and a $164.00 price target on the stock. Finally, Bank of America set a $160.00 price target on McKesson and gave the company a “buy” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. McKesson has an average rating of “Hold” and an average target price of $148.70.

The company has a 50 day moving average price of $141.89 and a 200-day moving average price of $128.98. The company has a current ratio of 1.01, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14. The company has a market cap of $27.65 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 1.48 and a beta of 1.13.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.27. The business had revenue of $55.73 billion for the quarter, compared to analyst estimates of $54.03 billion. McKesson had a return on equity of 30.73% and a net margin of 0.27%. McKesson’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 EPS. Equities analysts expect that McKesson Co. will post 14.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.64 dividend on an annualized basis and a yield of 1.10%. This is a positive change from McKesson’s previous quarterly dividend of $0.39. McKesson’s payout ratio is currently 11.50%.

In related news, Director M Christine Jacobs sold 1,296 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $146.65, for a total transaction of $190,058.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Britt J. Vitalone sold 832 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $129.17, for a total value of $107,469.44. The disclosure for this sale can be found here. Insiders have sold a total of 4,704 shares of company stock worth $625,131 in the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of MCK. Nuveen Asset Management LLC lifted its holdings in McKesson by 573.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,811,727 shares of the company’s stock worth $243,478,000 after buying an additional 1,542,644 shares during the period. FMR LLC lifted its holdings in McKesson by 16.7% during the 1st quarter. FMR LLC now owns 5,094,147 shares of the company’s stock worth $596,321,000 after buying an additional 727,954 shares during the period. Pzena Investment Management LLC lifted its holdings in McKesson by 19.7% during the 1st quarter. Pzena Investment Management LLC now owns 3,683,196 shares of the company’s stock worth $431,155,000 after buying an additional 606,781 shares during the period. Ruffer LLP lifted its holdings in McKesson by 84.1% during the 1st quarter. Ruffer LLP now owns 1,173,583 shares of the company’s stock worth $137,373,000 after buying an additional 536,114 shares during the period. Finally, Royal Bank of Canada lifted its holdings in McKesson by 111.4% during the 2nd quarter. Royal Bank of Canada now owns 733,978 shares of the company’s stock worth $98,640,000 after buying an additional 386,734 shares during the period. Institutional investors and hedge funds own 89.65% of the company’s stock.

McKesson Company Profile (NYSE:MCK)

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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