McKesson Corporation (NYSE:MCK) has received a consensus recommendation of “Hold” from the twenty-one analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $175.85.
MCK has been the subject of several analyst reports. UBS AG restated a “neutral” rating and issued a $166.00 price objective (up from $156.00) on shares of McKesson Corporation in a research note on Monday, June 26th. Vetr downgraded shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price for the company. in a report on Monday, July 17th. Leerink Swann upped their target price on shares of McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a report on Thursday, June 29th. Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Wednesday, July 12th. Finally, Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price objective for the company in a report on Thursday, July 27th.
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Shares of McKesson Corporation (NYSE:MCK) traded down 0.01% during mid-day trading on Thursday, hitting $146.60. The stock had a trading volume of 991,808 shares. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $169.29. The firm has a market cap of $30.82 billion, a PE ratio of 6.65 and a beta of 1.17. The stock’s 50-day moving average price is $152.00 and its 200-day moving average price is $153.59.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.35). The firm had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. McKesson Corporation’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.50 earnings per share. On average, analysts anticipate that McKesson Corporation will post $12.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 1st were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.93%. McKesson Corporation’s dividend payout ratio (DPR) is 6.07%.
In other news, CEO John H. Hammergren sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $153.51, for a total transaction of $15,351,000.00. Following the transaction, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at $25,329,150. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director M Christine Jacobs sold 1,083 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $145.43, for a total transaction of $157,500.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 952,066 shares of company stock worth $145,736,987. Corporate insiders own 1.20% of the company’s stock.
Several large investors have recently modified their holdings of MCK. Northwestern Mutual Investment Management Company LLC increased its position in shares of McKesson Corporation by 251.9% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 42,865 shares of the company’s stock worth $6,355,000 after acquiring an additional 30,685 shares during the period. Tiedemann Wealth Management LLC increased its position in shares of McKesson Corporation by 107.1% during the first quarter. Tiedemann Wealth Management LLC now owns 12,872 shares of the company’s stock worth $1,908,000 after acquiring an additional 6,656 shares during the period. Oxford Asset Management purchased a new position in shares of McKesson Corporation during the first quarter worth approximately $406,000. Aristotle Fund L.P. increased its position in shares of McKesson Corporation by 18.5% during the first quarter. Aristotle Fund L.P. now owns 124,400 shares of the company’s stock worth $18,444,000 after acquiring an additional 19,400 shares during the period. Finally, Clifford Swan Investment Counsel LLC increased its position in shares of McKesson Corporation by 283.4% during the first quarter. Clifford Swan Investment Counsel LLC now owns 21,473 shares of the company’s stock worth $3,184,000 after acquiring an additional 15,873 shares during the period. 85.16% of the stock is currently owned by institutional investors and hedge funds.
McKesson Corporation 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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