McKesson Corporation (NYSE:MCK) Receives $718.73 Average PT from Brokerages

McKesson Corporation (NYSE:MCK) has been given an average rating of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $719.2727.

MCK has been the topic of a number of analyst reports. Wall Street Zen lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 13th. Wells Fargo & Company boosted their price objective on McKesson from $766.00 to $772.00 and gave the company an “equal weight” rating in a research note on Wednesday. Morgan Stanley reiterated an “overweight” rating and set a $810.00 price objective (up from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Cowen restated a “buy” rating on shares of McKesson in a research note on Thursday, August 7th. Finally, Bank of America upped their target price on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 1,248 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the transaction, the executive vice president directly owned 2,621 shares in the company, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the transaction, the executive vice president owned 2,544 shares of the company’s stock, valued at $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,817 shares of company stock worth $37,461,210. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On McKesson

Institutional investors have recently bought and sold shares of the stock. Solstein Capital LLC boosted its holdings in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after acquiring an additional 24 shares during the period. GFG Capital LLC purchased a new stake in McKesson during the 2nd quarter valued at about $30,000. CBIZ Investment Advisory Services LLC boosted its holdings in McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares during the period. Capital A Wealth Management LLC purchased a new stake in McKesson during the 4th quarter valued at about $26,000. Finally, Bank of Jackson Hole Trust boosted its holdings in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of MCK opened at $662.79 on Friday. McKesson has a 1 year low of $464.42 and a 1 year high of $737.89. The firm has a market cap of $82.44 billion, a PE ratio of 26.43, a PEG ratio of 1.31 and a beta of 0.50. The stock’s fifty day moving average price is $711.09 and its two-hundred day moving average price is $680.62.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the previous year, the firm posted $7.88 earnings per share. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. Sell-side analysts anticipate that McKesson will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. This is an increase from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is currently 11.32%.

McKesson Company Profile

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.