McKesson Co. (NYSE:MCK) Receives $571.47 Average PT from Analysts

Shares of McKesson Co. (NYSE:MCK) have been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $571.47.

A number of equities research analysts have issued reports on the company. SVB Leerink started coverage on McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. UBS Group raised their target price 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. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 5th. Wells Fargo & Company upped their price target on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th.

McKesson Trading Down 0.2 %

MCK stock opened at $589.95 on Monday. The firm has a market cap of $76.69 billion, a PE ratio of 26.36, a PEG ratio of 1.37 and a beta of 0.47. McKesson has a 1 year low of $392.48 and a 1 year high of $592.41. The company has a fifty day simple moving average of $551.04 and a 200 day simple moving average of $514.93.

McKesson (NYSE:MCK) last announced its quarterly 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 during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. McKesson’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $7.19 EPS. As a group, analysts forecast that McKesson will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. 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%.

Insider Buying and Selling

In other McKesson news, CFO Britt J. Vitalone sold 894 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $498,315.60. Following the sale, the chief financial officer now owns 16,455 shares of the company’s stock, valued at approximately $9,172,017. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Britt J. Vitalone sold 894 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $498,315.60. Following the completion of the transaction, the chief financial officer now directly owns 16,455 shares of the company’s stock, valued at approximately $9,172,017. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas L. Rodgers sold 789 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the completion of the sale, the executive vice president now directly owns 7,909 shares in the company, valued at approximately $4,408,476.60. The disclosure for this sale can be found here. Insiders sold a total of 25,814 shares of company stock valued at $14,511,649 over the last ninety days. 0.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On McKesson

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Western Trust Bank raised its stake in McKesson by 2.0% during the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after acquiring an additional 18 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of McKesson by 1.7% in the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after purchasing an additional 19 shares in the last quarter. KCM Investment Advisors LLC grew its holdings in shares of McKesson by 1.4% in the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after purchasing an additional 19 shares during the last quarter. TCI Wealth Advisors Inc. lifted its holdings in McKesson by 1.3% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,531 shares of the company’s stock valued at $822,000 after purchasing an additional 19 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC lifted its holdings in McKesson by 1.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock valued at $700,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

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.