McKesson Corporation (NYSE:MCK) Receives Average Recommendation of “Moderate Buy” from Brokerages

McKesson Corporation (NYSE:MCK) has been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $973.4375.

A number of research analysts have weighed in on the company. TD Cowen increased their price target on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $845.00 target price on shares of McKesson in a research note on Monday, September 14th. Wells Fargo & Company increased their target price on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Citigroup increased their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 4th.

Insider Activity at McKesson

In related news, CAO B Jr sold 111 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian Tyler sold 8,463 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 8,875 shares of company stock worth $7,083,441. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MCK. Delos Wealth Advisors LLC acquired a new stake in McKesson during the second quarter worth about $27,000. Kingdom Financial Group LLC. acquired a new position in shares of McKesson in the 4th quarter valued at about $33,000. Greykasell Wealth Strategies Inc. grew its holdings in shares of McKesson by 104.8% during the 4th quarter. Greykasell Wealth Strategies Inc. now owns 43 shares of the company’s stock worth $35,000 after purchasing an additional 22 shares during the period. Clearstead Trust LLC purchased a new stake in shares of McKesson during the 2nd quarter worth about $37,000. Finally, Bell Investment Advisors Inc acquired a new stake in McKesson during the 2nd quarter worth approximately $39,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

McKesson stock opened at $874.02 on Friday. The stock has a market capitalization of $101.90 billion, a P/E ratio of 23.39, a P/E/G ratio of 1.74 and a beta of 0.30. McKesson has a 12-month low of $687.68 and a 12-month high of $999.00. The firm’s 50-day moving average is $869.09 and its two-hundred day moving average is $838.65.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the previous year, the business posted $8.26 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts forecast that McKesson will post 44.64 EPS for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio is 10.06%.

McKesson Company Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.