McKesson (NYSE:MCK) Issues Earnings Results

McKesson (NYSE:MCK) issued its quarterly earnings results on Tuesday. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16), Briefing.com reports. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same period in the prior year, the firm earned $7.19 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis. McKesson updated its FY25 guidance to $31.25-$32.05 EPS.

McKesson Stock Down 0.7 %

MCK stock traded down $4.06 during midday trading on Wednesday, reaching $541.69. 1,079,398 shares of the company’s stock traded hands, compared to its average volume of 709,475. The company has a 50-day simple moving average of $531.17 and a two-hundred day simple moving average of $493.81. McKesson has a 1-year low of $373.28 and a 1-year high of $566.01. The company has a market cap of $71.18 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 1.41 and a beta of 0.45.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is currently 11.24%.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. SVB Leerink started coverage on shares of McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target on the stock. Robert W. Baird lifted their target price on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays upped their price target on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group lifted their price objective on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Mizuho lifted their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $569.86.

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.