McKesson Co. (NYSE:MCK) Receives $571.47 Consensus Target Price from Analysts

McKesson Co. (NYSE:MCK) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $571.47.

MCK has been the subject of a number of recent research reports. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Wells Fargo & Company lifted their price target on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. Citigroup lifted their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Robert W. Baird lifted their price target on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Finally, Barclays lifted their price target on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th.

McKesson Trading Up 0.9 %

Shares of MCK opened at $557.32 on Thursday. The firm’s 50-day moving average price is $537.53 and its 200-day moving average price is $501.48. The firm has a market capitalization of $72.45 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.33 and a beta of 0.45. McKesson has a 1-year low of $373.28 and a 1-year high of $566.16.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $7.19 EPS. On average, research analysts forecast that McKesson will post 31.55 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.44%. McKesson’s payout ratio is 11.08%.

Insider Activity

In other news, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders sold 4,080 shares of company stock valued at $2,160,489 over the last three months. Insiders own 0.21% of the company’s stock.

Institutional Trading of McKesson

Several large investors have recently added to or reduced their stakes in MCK. Norges Bank bought a new stake in McKesson during the fourth quarter valued at approximately $1,024,140,000. Swedbank AB bought a new position in shares of McKesson in the first quarter worth approximately $669,326,000. International Assets Investment Management LLC boosted its position in shares of McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after purchasing an additional 749,504 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the period. Finally, TD Asset Management Inc boosted its position in shares of McKesson by 202.8% in the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock worth $278,778,000 after purchasing an additional 403,312 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Company Profile

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.