Traders Buy McKesson (MCK) on Weakness

Investors bought shares of McKesson Co. (NYSE:MCK) on weakness during trading on Thursday. $77.72 million flowed into the stock on the tick-up and $46.17 million flowed out of the stock on the tick-down, for a money net flow of $31.55 million into the stock. Of all companies tracked, McKesson had the 5th highest net in-flow for the day. McKesson traded down ($0.07) for the day and closed at $148.70

Several equities analysts recently commented on the stock. Needham & Company LLC increased their target price on shares of McKesson from $173.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Robert W. Baird reissued a “buy” rating and issued a $200.00 price target on shares of McKesson in a report on Wednesday, January 17th. Jefferies Group raised shares of McKesson from a “hold” rating to a “buy” rating and set a $205.00 price target on the stock in a report on Wednesday, January 24th. Mizuho set a $186.00 price target on shares of McKesson and gave the stock a “hold” rating in a report on Wednesday, January 24th. Finally, Zacks Investment Research raised shares of McKesson from a “hold” rating to a “buy” rating and set a $189.00 price target on the stock in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. McKesson currently has a consensus rating of “Hold” and an average price target of $177.50.

The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The company has a market cap of $31,000.00, a PE ratio of 7.15, a P/E/G ratio of 1.33 and a beta of 1.22.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, February 1st. The company reported $3.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.49. McKesson had a net margin of 2.34% and a return on equity of 22.98%. The firm had revenue of $53.62 billion during the quarter, compared to analysts’ expectations of $51.98 billion. During the same period last year, the company posted $3.04 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. research analysts anticipate that McKesson Co. will post 12.71 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.36 annualized dividend and a dividend yield of 0.91%. McKesson’s dividend payout ratio is 6.54%.

In other news, Chairman John H. Hammergren sold 65,000 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $160.00, for a total value of $10,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. WFG Advisors LP lifted its position in shares of McKesson by 5.0% in the 2nd quarter. WFG Advisors LP now owns 859 shares of the company’s stock worth $141,000 after purchasing an additional 41 shares during the period. Hanson & Doremus Investment Management lifted its position in shares of McKesson by 4.4% in the 4th quarter. Hanson & Doremus Investment Management now owns 7,964 shares of the company’s stock worth $1,242,000 after purchasing an additional 339 shares during the period. Legacy Capital Partners Inc. lifted its position in shares of McKesson by 11.5% in the 4th quarter. Legacy Capital Partners Inc. now owns 3,303 shares of the company’s stock worth $515,000 after purchasing an additional 340 shares during the period. Clarkston Capital Partners LLC lifted its position in McKesson by 0.7% during the 4th quarter. Clarkston Capital Partners LLC now owns 47,435 shares of the company’s stock valued at $7,397,000 after acquiring an additional 350 shares during the period. Finally, Bristlecone Advisors LLC lifted its position in McKesson by 3.2% during the 3rd quarter. Bristlecone Advisors LLC now owns 12,101 shares of the company’s stock valued at $1,859,000 after acquiring an additional 375 shares during the period. 86.63% of the stock is owned by hedge funds and other institutional investors.

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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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