McKesson Co. (NYSE:MCK) Expected to Announce Quarterly Sales of $62.41 Billion

Wall Street analysts expect McKesson Co. (NYSE:MCK – Get Rating) to post $62.41 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for McKesson’s earnings, with the highest sales estimate coming in at $64.28 billion and the lowest estimate coming in at $60.31 billion. McKesson posted sales of $62.67 billion in the same quarter last year, which suggests a negative year over year growth rate of 0.4%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that McKesson will report full-year sales of $257.20 billion for the current financial year, with estimates ranging from $246.25 billion to $268.39 billion. For the next year, analysts anticipate that the company will post sales of $260.93 billion, with estimates ranging from $254.02 billion to $264.42 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover McKesson.

McKesson (NYSE:MCK – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $5.83 earnings per share for the quarter, missing analysts’ consensus estimates of $6.06 by ($0.23). McKesson had a net margin of 0.42% and a negative return on equity of 538.84%. The firm had revenue of $66.10 billion during the quarter, compared to the consensus estimate of $63.82 billion. During the same period in the prior year, the company posted $5.05 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year.

MCK has been the subject of a number of analyst reports. Cowen upped their price target on McKesson from $325.00 to $361.00 and gave the stock an “outperform” rating in a research report on Monday, April 18th. Mizuho upped their price target on McKesson from $280.00 to $331.00 in a research report on Monday, May 9th. Robert W. Baird upped their price target on McKesson from $352.00 to $380.00 in a research report on Friday, May 6th. UBS Group upped their price target on McKesson to $380.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, StockNews.com began coverage on McKesson in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $326.00.

In other news, CEO Brian S. Tyler sold 5,438 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $319.36, for a total transaction of $1,736,679.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Nancy Flores sold 3,298 shares of the company’s stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $311.09, for a total value of $1,025,974.82. Following the transaction, 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 have sold 42,406 shares of company stock worth $13,828,869 over the last three months. 0.28% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCK. West Oak Capital LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $25,000. Amplius Wealth Advisors LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $25,000. Cornerstone Advisory LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $25,000. Covestor Ltd grew its stake in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after buying an additional 34 shares during the last quarter. Finally, Ahrens Investment Partners LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $26,000. 85.45% of the stock is currently owned by hedge funds and other institutional investors.

MCK stock opened at $322.86 on Monday. McKesson has a fifty-two week low of $184.43 and a fifty-two week high of $339.94. The business’s 50-day moving average is $315.33 and its two-hundred day moving average is $271.95. The company has a market cap of $46.93 billion, a price-to-earnings ratio of 44.78, a P/E/G ratio of 1.46 and a beta of 0.67.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 1st will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $1.88 annualized dividend and a yield of 0.58%. McKesson’s payout ratio is currently 26.07%.

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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