McKesson Corporation (NYSE:MCK) has earned a consensus rating of “Buy” from the twenty-one brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $174.31.
MCK has been the subject of several analyst reports. Needham & Company LLC set a $178.00 price target on McKesson and gave the stock a “buy” rating in a research note on Tuesday, October 24th. ValuEngine upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Deutsche Bank initiated coverage on McKesson in a research note on Monday. They set a “buy” rating and a $175.00 price target for the company. TheStreet cut McKesson from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Finally, Morgan Stanley cut McKesson from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $184.00 to $172.00 in a research note on Thursday, September 14th.
In other McKesson news, CEO John H. Hammergren sold 125,000 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total value of $18,772,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. Insiders sold 949,900 shares of company stock valued at $145,403,445 in the last quarter. 1.20% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. IHT Wealth Management LLC increased its position in shares of McKesson by 64.2% in the second quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock valued at $1,027,000 after buying an additional 190 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of McKesson in the second quarter valued at $107,000. Harvest Fund Management Co. Ltd purchased a new position in shares of McKesson in the second quarter valued at $125,000. Tompkins Financial Corp increased its position in shares of McKesson by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after buying an additional 18 shares in the last quarter. Finally, WFG Advisors LP increased its position in shares of McKesson by 5.0% in the second quarter. WFG Advisors LP now owns 859 shares of the company’s stock valued at $141,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 88.10% of the company’s stock.
McKesson (NYSE:MCK) traded down $0.22 during mid-day trading on Friday, hitting $150.47. The stock had a trading volume of 1,262,897 shares, compared to its average volume of 1,881,763. The firm has a market capitalization of $31,915.36, a P/E ratio of 12.59, a P/E/G ratio of 1.57 and a beta of 1.23. McKesson has a 1-year low of $133.82 and a 1-year high of $169.29. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.50. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The business had revenue of $52.06 billion during the quarter, compared to analysts’ expectations of $51.69 billion. During the same quarter in the prior year, the business earned $2.94 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. equities research analysts expect that McKesson will post 12.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson’s payout ratio is 6.45%.
McKesson Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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