McKesson Co. (NYSE:MCK) Receives $328.69 Average Price Target from Analysts

Shares of McKesson Co. (NYSE:MCKGet Rating) have been given an average rating of “Buy” by the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $328.69.

Several equities analysts have recently weighed in on MCK shares. Deutsche Bank Aktiengesellschaft upgraded McKesson from a “hold” rating to a “buy” rating and lifted their price objective for the company from $343.00 to $378.00 in a report on Tuesday, June 7th. Credit Suisse Group lifted their price objective on McKesson from $333.00 to $377.00 in a report on Wednesday, May 11th. UBS Group lifted their target price on McKesson to $380.00 and gave the company a “hold” rating in a research report on Thursday, May 19th. Cowen lifted their target price on McKesson from $325.00 to $361.00 in a research report on Monday, April 18th. Finally, StockNews.com initiated coverage on McKesson in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock.

NYSE:MCK opened at $311.05 on Thursday. McKesson has a fifty-two week low of $186.61 and a fifty-two week high of $339.94. The stock has a market capitalization of $44.66 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 1.37 and a beta of 0.66. The business’s 50-day simple moving average is $320.22 and its 200-day simple moving average is $286.58.

McKesson (NYSE:MCKGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $5.83 earnings per share for the quarter, missing the consensus estimate of $6.06 by ($0.23). McKesson had a net margin of 0.42% and a negative return on equity of 538.84%. The business had revenue of $66.10 billion for the quarter, compared to the consensus estimate of $63.82 billion. During the same quarter last year, the firm earned $5.05 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Equities analysts anticipate that McKesson will post 23.25 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 1st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Tuesday, May 31st. McKesson’s dividend payout ratio (DPR) is 26.07%.

In related news, EVP Thomas L. Rodgers sold 160 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $316.42, for a total transaction of $50,627.20. Following the transaction, the executive vice president now directly owns 3,844 shares of the company’s stock, valued at approximately $1,216,318.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 1,535 shares of the business’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $305.20, for a total value of $468,482.00. Following the transaction, the chief executive officer now directly owns 75,737 shares in the company, valued at $23,114,932.40. The disclosure for this sale can be found here. Insiders have sold a total of 86,802 shares of company stock worth $28,300,233 in the last ninety days. Insiders own 0.21% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. West Oak Capital LLC bought a new stake in McKesson in the 4th quarter valued at $25,000. Amplius Wealth Advisors LLC bought a new stake in McKesson in the 4th quarter valued at $25,000. Cornerstone Advisory LLC bought a new stake in McKesson in the 4th quarter valued at $25,000. Covestor Ltd boosted its stake in McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. Finally, Ahrens Investment Partners LLC bought a new stake in McKesson in the 4th quarter valued at $26,000. 85.45% of the stock is currently owned by institutional investors and hedge funds.

About McKesson (Get Rating)

McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

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Analyst Recommendations for McKesson (NYSE:MCK)

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