Investors Buy McKesson (MCK) on Weakness

Investors bought shares of McKesson Co. (NYSE:MCK) on weakness during trading on Friday. $143.20 million flowed into the stock on the tick-up and $72.18 million flowed out of the stock on the tick-down, for a money net flow of $71.02 million into the stock. Of all equities tracked, McKesson had the 16th highest net in-flow for the day. McKesson traded down ($1.42) for the day and closed at $170.36

A number of research firms recently issued reports on MCK. Robert W. Baird reaffirmed a “buy” rating and issued a $200.00 price target on shares of McKesson in a report on Wednesday. Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $177.00 price target for the company in a report on Tuesday, December 26th. Evercore ISI began coverage on McKesson in a report on Thursday, January 4th. They issued an “outperform” rating and a $179.00 price target for the company. ValuEngine cut McKesson from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Mizuho set a $168.00 price objective on McKesson and gave the stock a “hold” rating in a report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company’s stock. McKesson presently has an average rating of “Hold” and a consensus price target of $174.85.

The firm has a market cap of $35,520.00, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 1.76 and a beta of 1.23. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.50. The firm had revenue of $52.06 billion during the quarter, compared to analysts’ expectations of $51.69 billion. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.94 EPS. equities analysts anticipate that McKesson Co. will post 12.26 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were given a dividend of $0.34 per share. The ex-dividend date was Thursday, November 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.80%. McKesson’s payout ratio is currently 6.44%.

In other news, Chairman John H. Hammergren sold 65,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $160.00, for a total transaction of $10,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Ingalls & Snyder LLC grew its position in shares of McKesson by 76.7% during the 3rd quarter. Ingalls & Snyder LLC now owns 16,939 shares of the company’s stock worth $2,602,000 after buying an additional 7,352 shares during the period. Whittier Trust Co. grew its position in shares of McKesson by 1.5% during the 3rd quarter. Whittier Trust Co. now owns 62,812 shares of the company’s stock worth $9,649,000 after buying an additional 898 shares during the period. River & Mercantile Asset Management LLP grew its position in shares of McKesson by 278.6% during the 3rd quarter. River & Mercantile Asset Management LLP now owns 177,824 shares of the company’s stock worth $27,321,000 after buying an additional 130,852 shares during the period. Synovus Financial Corp grew its position in shares of McKesson by 62.8% during the 3rd quarter. Synovus Financial Corp now owns 5,803 shares of the company’s stock worth $890,000 after buying an additional 2,238 shares during the period. Finally, Cypress Capital Management LLC grew its position in shares of McKesson by 77.4% during the 2nd quarter. Cypress Capital Management LLC now owns 3,861 shares of the company’s stock worth $635,000 after buying an additional 1,684 shares during the period. Institutional investors own 87.91% of the company’s stock.

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About McKesson

McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.

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