McKesson Co. (NYSE:MCK) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of McKesson Co. (NYSE:MCKGet Rating) have earned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $338.08.

MCK has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded shares of McKesson from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $343.00 to $378.00 in a research note on Tuesday, June 7th. Credit Suisse Group lifted their price objective on shares of McKesson from $333.00 to $377.00 in a research note on Wednesday, May 11th. Cowen lifted their price objective on shares of McKesson from $325.00 to $361.00 in a research note on Monday, April 18th. Cowen lifted their price objective on shares of McKesson from $325.00 to $361.00 and gave the stock an “outperform” rating in a research note on Monday, April 18th. Finally, Morgan Stanley boosted their target price on shares of McKesson from $292.00 to $370.00 and gave the company an “overweight” rating in a research report on Tuesday, April 12th.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,678 shares of the company’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $331.45, for a total value of $2,876,323.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Brian S. Tyler sold 8,678 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $331.45, for a total transaction of $2,876,323.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Britt J. Vitalone sold 27,281 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $333.16, for a total transaction of $9,088,937.96. Following the sale, the chief financial officer now directly owns 13,693 shares of the company’s stock, valued at approximately $4,561,959.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,628 shares of company stock worth $23,779,745. Company insiders own 0.21% of the company’s stock.

Institutional Trading of McKesson

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bfsg LLC grew its stake in McKesson by 6.8% during the 2nd quarter. Bfsg LLC now owns 2,856 shares of the company’s stock valued at $932,000 after acquiring an additional 181 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its stake in McKesson by 1.1% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 2,858 shares of the company’s stock valued at $932,000 after acquiring an additional 32 shares in the last quarter. Independent Advisor Alliance grew its stake in McKesson by 22.1% during the 2nd quarter. Independent Advisor Alliance now owns 852 shares of the company’s stock valued at $278,000 after acquiring an additional 154 shares in the last quarter. Aviva PLC grew its stake in McKesson by 74.5% during the 2nd quarter. Aviva PLC now owns 84,576 shares of the company’s stock valued at $27,590,000 after acquiring an additional 36,112 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in McKesson by 5.4% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 85,464 shares of the company’s stock valued at $27,879,000 after acquiring an additional 4,413 shares in the last quarter. Hedge funds and other institutional investors own 85.45% of the company’s stock.

McKesson Trading Up 3.3 %

NYSE MCK opened at $337.81 on Friday. The firm’s fifty day simple moving average is $323.85 and its two-hundred day simple moving average is $305.48. McKesson has a 12-month low of $192.38 and a 12-month high of $348.49. The firm has a market capitalization of $48.50 billion, a P/E ratio of 46.85, a P/E/G ratio of 1.51 and a beta of 0.63.

McKesson (NYSE:MCKGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $5.83 EPS for the quarter, missing the consensus estimate of $6.06 by ($0.23). McKesson had a negative return on equity of 538.84% and a net margin of 0.42%. The company had revenue of $66.10 billion for the quarter, compared to analyst estimates of $63.82 billion. During the same quarter in the previous year, the firm posted $5.05 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, sell-side analysts predict that McKesson will post 23.26 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.64%. This is an increase from McKesson’s previous quarterly dividend of $0.47. McKesson’s dividend payout ratio is 26.07%.

McKesson Company Profile

(Get Rating)

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

Featured Stories

Analyst Recommendations for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.