McKesson Corporation (NYSE:MCK) Receives $834.54 Average PT from Brokerages

by · The Cerbat Gem

McKesson Corporation (NYSE:MCK – Get Free Report) has been given a consensus rating of “Moderate Buy” by the seventeen analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $839.1538.

A number of brokerages have recently issued reports on MCK. TD Cowen raised their price target on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Evercore ISI raised their price target on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Jefferies Financial Group raised their price target on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Morgan Stanley raised their price target on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Finally, Cowen restated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th.

Read Our Latest Research Report on MCK

McKesson Price Performance

MCK opened at $811.69 on Thursday. The company’s 50 day simple moving average is $731.79 and its two-hundred day simple moving average is $715.51. McKesson has a 1-year low of $492.39 and a 1-year high of $811.86. The firm has a market capitalization of $100.96 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52.

McKesson (NYSE:MCK – Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. During the same period last year, the business earned $7.88 earnings per share. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, equities analysts anticipate that McKesson will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.71. McKesson’s payout ratio is 13.08%.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,189 shares of company stock valued at $16,722,190 in the last quarter. 0.08% of the stock is owned by insiders.

Institutional Trading of McKesson

Institutional investors have recently added to or reduced their stakes in the stock. Solstein Capital LLC increased its holdings in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the last quarter. Bank of Jackson Hole Trust increased its holdings in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after purchasing an additional 18 shares during the last quarter. State of Wyoming acquired a new stake in McKesson in the 2nd quarter valued at approximately $29,000. CBIZ Investment Advisory Services LLC increased its holdings in McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. Finally, GFG Capital LLC acquired a new position in shares of McKesson in the second quarter worth $30,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Company Profile

(Get Free Report)

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.

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