McKesson Corporation (NYSE:MCK) Receives $829.08 Consensus PT from Analysts

Shares of McKesson Corporation (NYSE:MCK) have been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $829.0833.

MCK has been the topic of a number of research reports. Morgan Stanley boosted their price objective on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. UBS Group boosted their price objective on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Evercore ISI boosted their target price on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Finally, Wells Fargo & Company upped their price target on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th.

McKesson Stock Performance

Shares of MCK stock opened at $759.65 on Friday. The company has a market capitalization of $94.49 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 1.37 and a beta of 0.52. The company’s 50 day moving average price is $702.08 and its two-hundred day moving average price is $702.43. McKesson has a 52 week low of $480.39 and a 52 week high of $776.14.

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

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s payout ratio is currently 13.08%.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,560 shares of company stock worth $30,438,602 over the last ninety days. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On McKesson

Institutional investors and hedge funds have recently modified their holdings of the stock. Solstein Capital LLC increased its holdings in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the last quarter. State of Wyoming acquired a new position in shares of McKesson in the second quarter valued at $29,000. GFG Capital LLC bought a new stake in shares of McKesson in the second quarter valued at about $30,000. CBIZ Investment Advisory Services LLC boosted its position in shares of McKesson by 1,366.7% in the first 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. Finally, Bank of Jackson Hole Trust boosted its position in shares of McKesson by 64.3% in the first 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 institutional investors and hedge funds.

About McKesson

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.