McKesson Co. (NYSE:MCK) Receives Consensus Rating of “Moderate Buy” from Brokerages

McKesson Co. (NYSE:MCK) has been assigned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $625.64.

A number of equities research analysts recently commented on MCK shares. JPMorgan Chase & Co. increased their price target on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Evercore ISI boosted their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by company insiders.

Institutional Trading of McKesson

Several hedge funds and other institutional investors have recently made changes to their positions in MCK. LRI Investments LLC purchased a new stake in shares of McKesson in the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the 3rd quarter valued at $29,000. ORG Wealth Partners LLC purchased a new stake in McKesson during the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in McKesson during the 2nd quarter valued at $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.4 %

MCK opened at $615.59 on Thursday. McKesson has a 12 month low of $431.35 and a 12 month high of $637.51. The business’s 50-day moving average price is $513.03 and its 200-day moving average price is $551.85. The company has a market cap of $79.83 billion, a P/E ratio of 31.88, a P/E/G ratio of 1.39 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the company earned $6.23 EPS. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts forecast that McKesson will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

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.