McKesson (NYSE:MCK) Shares Gap Up to $156.32

McKesson Co. (NYSE:MCK)’s share price gapped up before the market opened on Monday . The stock had previously closed at $151.03, but opened at $156.32. McKesson shares last traded at $162.14, with a volume of 5,951,614 shares.

A number of research firms have recently commented on MCK. TheStreet downgraded shares of McKesson from a “b” rating to a “c-” rating in a research note on Wednesday, October 30th. UBS Group downgraded shares of McKesson to a “sell” rating and set a $147.00 price objective for the company. in a research note on Thursday, January 9th. Mizuho increased their price objective on shares of McKesson from $137.00 to $140.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Morgan Stanley increased their price objective on shares of McKesson from $162.00 to $168.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank increased their price objective on shares of McKesson from $153.00 to $173.00 and gave the stock a “hold” rating in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $161.40.

The firm has a market capitalization of $28.49 billion, a price-to-earnings ratio of -33.16, a P/E/G ratio of 1.50 and a beta of 1.16. The company’s 50 day moving average is $146.78 and its 200-day moving average is $143.28. The company has a current ratio of 0.98, a quick ratio of 0.56 and a debt-to-equity ratio of 1.33.

McKesson (NYSE:MCK) last issued its earnings results on Tuesday, February 4th. The company reported $3.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.56 by $0.25. McKesson had a negative net margin of 0.41% and a positive return on equity of 36.40%. The business had revenue of $59.17 billion during the quarter, compared to the consensus estimate of $59.10 billion. During the same period last year, the business posted $3.40 EPS. McKesson’s revenue was up 5.3% on a year-over-year basis. Research analysts expect that McKesson Co. will post 14.73 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $1.64 annualized dividend and a yield of 1.01%. McKesson’s dividend payout ratio (DPR) is currently 12.09%.

In related news, CEO Brian S. Tyler sold 4,062 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $153.68, for a total value of $624,248.16. Following the completion of the sale, the chief executive officer now directly owns 16,254 shares in the company, valued at approximately $2,497,914.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.

A number of large investors have recently modified their holdings of MCK. BlackRock Inc. raised its holdings in McKesson by 2.1% in the 2nd quarter. BlackRock Inc. now owns 15,097,053 shares of the company’s stock valued at $2,028,894,000 after acquiring an additional 308,554 shares during the period. Cerebellum GP LLC raised its holdings in McKesson by 14.2% in the 3rd quarter. Cerebellum GP LLC now owns 3,101 shares of the company’s stock valued at $424,000 after acquiring an additional 386 shares during the period. YHB Investment Advisors Inc. raised its holdings in McKesson by 2.3% in the 3rd quarter. YHB Investment Advisors Inc. now owns 3,605 shares of the company’s stock valued at $493,000 after acquiring an additional 80 shares during the period. Acropolis Investment Management LLC raised its holdings in McKesson by 7.8% in the 3rd quarter. Acropolis Investment Management LLC now owns 1,790 shares of the company’s stock valued at $238,000 after acquiring an additional 130 shares during the period. Finally, Exane Derivatives raised its holdings in McKesson by 3,734.7% in the 3rd quarter. Exane Derivatives now owns 23,315 shares of the company’s stock valued at $3,186,000 after acquiring an additional 22,707 shares during the period. Institutional investors and hedge funds own 87.09% 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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