McKesson (NYSE:MCK) Hits New 12-Month High on Analyst Upgrade

McKesson Co. (NYSE:MCK)’s stock price reached a new 52-week high during trading on Thursday after Mizuho raised their price target on the stock from $630.00 to $690.00. Mizuho currently has a neutral rating on the stock. McKesson traded as high as $695.46 and last traded at $694.12, with a volume of 1203109 shares changing hands. The stock had previously closed at $673.69.

MCK has been the topic of several other reports. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company upped their price objective on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $661.00.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McKesson

Institutional investors have recently made changes to their positions in the company. Quent Capital LLC grew its position in McKesson by 10.1% during the first quarter. Quent Capital LLC now owns 1,297 shares of the company’s stock valued at $873,000 after buying an additional 119 shares during the period. Moody National Bank Trust Division boosted its stake in shares of McKesson by 0.9% during the 1st quarter. Moody National Bank Trust Division now owns 2,003 shares of the company’s stock worth $1,348,000 after acquiring an additional 18 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of McKesson by 75.7% during the 1st quarter. Versant Capital Management Inc now owns 592 shares of the company’s stock worth $398,000 after acquiring an additional 255 shares in the last quarter. Central Pacific Bank Trust Division grew its position in shares of McKesson by 153.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 2,535 shares of the company’s stock valued at $1,706,000 after acquiring an additional 1,533 shares during the period. Finally, First Hawaiian Bank increased its stake in shares of McKesson by 55.0% in the 1st quarter. First Hawaiian Bank now owns 5,580 shares of the company’s stock valued at $3,755,000 after purchasing an additional 1,980 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Down 4.8 %

The company has a market cap of $85.52 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 1.29 and a beta of 0.49. The business has a fifty day moving average of $633.37 and a two-hundred day moving average of $584.91.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. McKesson’s dividend payout ratio (DPR) is 13.00%.

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.