A number of other equities research analysts have also weighed in on the company. StockNews.com initiated coverage on McKesson in a research note on Thursday, March 31st. They set a strong-buy rating for the company. Credit Suisse Group initiated coverage on McKesson in a research report on Friday, April 1st. They issued an outperform rating and a $333.00 target price for the company. TheStreet upgraded McKesson from a d rating to a c+ rating in a research report on Wednesday, February 2nd. Robert W. Baird lifted their target price on McKesson from $352.00 to $380.00 in a research report on Friday. Finally, UBS Group lifted their target price on McKesson from $245.00 to $303.00 and gave the stock a buy rating in a research report on Tuesday, February 8th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, McKesson has a consensus rating of Buy and a consensus price target of $316.69.
Shares of NYSE MCK opened at $326.47 on Tuesday. McKesson has a fifty-two week low of $184.43 and a fifty-two week high of $335.60. The business has a 50 day moving average price of $306.89 and a two-hundred day moving average price of $264.73. The firm has a market cap of $48.90 billion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 1.23 and a beta of 0.67.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 1st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Tuesday, May 31st. McKesson’s dividend payout ratio is presently 26.07%.
In other news, CEO Brian S. Tyler sold 5,438 shares of the business’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $323.25, for a total value of $1,757,833.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nancy Flores sold 3,298 shares of the business’s stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $311.09, for a total value of $1,025,974.82. Following the completion of the sale, the executive vice president now directly owns 5,440 shares in the company, valued at approximately $1,692,329.60. The disclosure for this sale can be found here. Insiders sold a total of 14,174 shares of company stock worth $4,520,488 in the last three months. Company insiders own 0.28% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Center for Financial Planning Inc. lifted its stake in McKesson by 4.9% during the third quarter. Center for Financial Planning Inc. now owns 4,777 shares of the company’s stock valued at $952,000 after buying an additional 222 shares in the last quarter. Ieq Capital LLC lifted its stake in McKesson by 57.7% during the third quarter. Ieq Capital LLC now owns 2,999 shares of the company’s stock valued at $598,000 after buying an additional 1,097 shares in the last quarter. JustInvest LLC lifted its stake in McKesson by 28.8% during the third quarter. JustInvest LLC now owns 2,833 shares of the company’s stock valued at $565,000 after buying an additional 634 shares in the last quarter. Commerce Bank lifted its stake in McKesson by 9.2% during the third quarter. Commerce Bank now owns 17,514 shares of the company’s stock valued at $3,492,000 after buying an additional 1,480 shares in the last quarter. Finally, Boston Private Wealth LLC lifted its stake in McKesson by 17.4% during the third quarter. Boston Private Wealth LLC now owns 3,584 shares of the company’s stock valued at $715,000 after buying an additional 532 shares in the last quarter. Institutional investors and hedge funds own 85.45% of the company’s stock.
McKesson Company Profile (Get Rating)
McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).
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