McKesson Co. (NYSE:MCK)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $141.73, but opened at $143.82. McKesson shares last traded at $143.23, with a volume of 32,681 shares.
MCK has been the topic of a number of analyst reports. ValuEngine downgraded Valero Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Wolfe Research initiated coverage on Iqvia in a research report on Tuesday, April 2nd. They set a “market perform” rating on the stock. Finally, Zacks Investment Research downgraded Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. McKesson presently has an average rating of “Hold” and an average price target of $132.39.
The firm’s fifty day simple moving average is $132.87. The firm has a market capitalization of $26.95 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.45 and a beta of 1.11. The company has a current ratio of 1.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.88.
McKesson (NYSE:MCK) last issued its earnings results on Wednesday, May 8th. The company reported $3.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.66 by $0.03. McKesson had a return on equity of 29.02% and a net margin of 0.02%. The firm had revenue of $52.43 billion for the quarter, compared to the consensus estimate of $53.14 billion. During the same quarter last year, the business posted $3.49 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that McKesson Co. will post 14.15 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend was Friday, May 31st. McKesson’s dividend payout ratio (DPR) is 11.50%.
In related news, CFO Britt J. Vitalone sold 832 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $129.17, for a total transaction of $107,469.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lori A. Schechter sold 2,766 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $133.59, for a total value of $369,509.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,174 shares of company stock worth $804,583. 0.88% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCK. Norges Bank acquired a new stake in shares of McKesson during the 4th quarter valued at $215,791,000. CI Investments Inc. bought a new position in McKesson during the 4th quarter worth $150,620,000. FMR LLC raised its position 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 purchasing an additional 727,954 shares during the last quarter. Pzena Investment Management LLC raised its position 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 purchasing an additional 606,781 shares during the last quarter. Finally, Ruffer LLP raised its position 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 purchasing an additional 536,114 shares during the last quarter. 88.97% of the stock is currently owned by institutional investors.
About McKesson (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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