McKesson (NYSE:MCK) Issues FY 2023 Earnings Guidance

McKesson (NYSE:MCK – Get Rating) updated its FY 2023 earnings guidance on Monday. The company provided EPS guidance of $22.90-$23.60 for the period, compared to the consensus EPS estimate of $23.10. The company issued revenue guidance of -.

A number of research analysts recently weighed in on the stock. Mizuho raised their target price on shares of McKesson from $280.00 to $331.00 in a research report on Monday, May 9th. UBS Group raised their target price on shares of McKesson to $380.00 and gave the company a hold rating in a research report on Thursday. Cowen raised their target price on shares of McKesson from $325.00 to $361.00 and gave the company an outperform rating in a research report on Monday, April 18th. StockNews.com assumed coverage on shares of McKesson in a research report on Thursday, March 31st. They issued a strong-buy rating for the company. Finally, Cowen raised their target price on shares of McKesson from $325.00 to $361.00 in a research report on Monday, April 18th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Buy and an average price target of $326.00.

NYSE:MCK traded up $4.33 during mid-day trading on Monday, reaching $327.19. 7,522 shares of the company’s stock were exchanged, compared to its average volume of 1,197,788. McKesson has a one year low of $184.43 and a one year high of $339.94. The firm has a market capitalization of $47.56 billion, a PE ratio of 44.78, a price-to-earnings-growth ratio of 1.46 and a beta of 0.67. The business’s fifty day simple moving average is $315.33 and its two-hundred day simple moving average is $271.95.

McKesson (NYSE:MCK – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $5.83 EPS for the quarter, missing analysts’ consensus estimates of $6.06 by ($0.23). McKesson had a negative return on equity of 538.84% and a net margin of 0.42%. The business had revenue of $66.10 billion for the quarter, compared to the consensus estimate of $63.82 billion. During the same period in the prior year, the business posted $5.05 earnings per share. McKesson’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts expect that McKesson will post 23.2 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 1st will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, May 31st. McKesson’s dividend payout ratio is 26.07%.

In related news, EVP Nancy Flores sold 3,298 shares of McKesson stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $311.09, for a total transaction of $1,025,974.82. Following the sale, the executive vice president now directly owns 5,440 shares of the company’s stock, valued at approximately $1,692,329.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,678 shares of McKesson stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $331.45, for a total transaction of $2,876,323.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,406 shares of company stock worth $13,828,869. Insiders own 0.28% of the company’s stock.

A number of large investors have recently bought and sold shares of MCK. Covestor Ltd boosted its position in McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after buying an additional 34 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in McKesson during the 4th quarter worth approximately $37,000. KB Financial Partners LLC acquired a new stake in McKesson during the 4th quarter worth approximately $37,000. Worth Asset Management LLC acquired a new stake in McKesson during the 1st quarter worth approximately $41,000. Finally, Fairfield Bush & CO. acquired a new position in shares of McKesson in the 1st quarter worth approximately $46,000. 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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