McKesson (NYSE:MCK) Sets New 1-Year High at $540.48

McKesson Co. (NYSE:MCKGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $540.48 and last traded at $538.20, with a volume of 97288 shares changing hands. The stock had previously closed at $533.27.

Analyst Ratings Changes

A number of research analysts recently issued reports on MCK shares. TD Cowen raised their target price on shares of McKesson from $508.00 to $563.00 and gave the company an “outperform” rating in a research note on Monday, December 11th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Citigroup increased their price target on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, February 8th. SVB Leerink initiated coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target for the company. Finally, Mizuho increased their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $522.21.

Check Out Our Latest Stock Report on McKesson

McKesson Trading Up 1.3 %

The stock has a market capitalization of $70.97 billion, a P/E ratio of 24.36, a P/E/G ratio of 1.46 and a beta of 0.45. The firm’s fifty day moving average is $516.85 and its 200-day moving average is $478.75.

McKesson (NYSE:MCKGet Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.90 earnings per share. Equities research analysts expect that McKesson Co. will post 27.61 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Thursday, February 29th. McKesson’s payout ratio is presently 11.24%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Institutional Trading of McKesson

A number of institutional investors have recently modified their holdings of MCK. Fairfield Bush & CO. purchased a new stake in shares of McKesson during the 1st quarter valued at approximately $46,000. Synovus Financial Corp increased its holdings in McKesson by 4.0% during the 1st quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock worth $673,000 after acquiring an additional 85 shares during the period. Prudential PLC bought a new stake in McKesson during the 1st quarter worth approximately $1,610,000. Cetera Investment Advisers increased its holdings in McKesson by 17.8% during the 1st quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock worth $3,012,000 after acquiring an additional 1,490 shares during the period. Finally, Moors & Cabot Inc. bought a new stake in McKesson during the 1st quarter worth approximately $598,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

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