McKesson Co. (NYSE:MCK) EVP Sells $351,318.00 in Stock

McKesson Co. (NYSE:MCK) EVP Leann B. Smith sold 600 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the sale, the executive vice president now owns 2,022 shares in the company, valued at approximately $1,183,941.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

McKesson Stock Down 0.2 %

NYSE:MCK opened at $589.95 on Friday. McKesson Co. has a 12 month low of $392.48 and a 12 month high of $592.41. The firm has a market cap of $76.69 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47. The company’s 50-day moving average price is $551.04 and its two-hundred day moving average price is $514.93.

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). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company 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 posted $7.19 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. On average, research analysts expect that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio is presently 11.08%.

Analysts Set New Price Targets

MCK has been the topic of a number of research analyst reports. UBS Group raised their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Barclays raised their target price on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 5th. Finally, TD Cowen raised their price target on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $571.47.

Hedge Funds Weigh In On McKesson

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in shares of McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after buying an additional 46,659 shares during the last quarter. Morgan Stanley raised its stake in shares of McKesson by 14.0% during the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares during the last quarter. Norges Bank bought a new stake in shares of McKesson during the fourth quarter worth approximately $1,024,140,000. Putnam Investments LLC raised its stake in shares of McKesson by 3.2% during the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after buying an additional 62,242 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of McKesson by 3.3% during the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after buying an additional 50,265 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

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.