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

Shares of McKesson Co. (NYSE:MCK) have been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $631.57.

Several analysts have recently weighed in on MCK shares. Wells Fargo & Company decreased their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Mizuho lifted their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th.

McKesson Trading Up 0.3 %

Shares of NYSE:MCK opened at $628.50 on Monday. McKesson has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a market capitalization of $79.78 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 1.36 and a beta of 0.44. The firm’s 50-day moving average is $542.22 and its 200 day moving average is $560.02.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share 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 firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the business posted $6.23 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, equities analysts forecast that McKesson will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared 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 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MCK. Wolff Wiese Magana LLC grew its stake in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson in the third quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson during the second quarter worth $52,000. 85.07% of the stock is owned by institutional investors and hedge funds.

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.