McKesson (NYSE:MCK) Sets New 12-Month High at $571.28

McKesson Co. (NYSE:MCKGet Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $571.28 and last traded at $569.59, with a volume of 38293 shares. The stock had previously closed at $568.97.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MCK shares. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. SVB Leerink started coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Mizuho upped their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Finally, Barclays upped their price objective on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $571.47.

Read Our Latest Stock Report on McKesson

McKesson Stock Up 0.1 %

The business’s fifty day moving average is $542.95 and its 200 day moving average is $508.41. The stock has a market cap of $74.58 billion, a PE ratio of 25.64, a P/E/G ratio of 1.33 and a beta of 0.47.

McKesson (NYSE:MCKGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. McKesson’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $7.19 EPS. As a group, analysts predict that McKesson Co. will post 31.54 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio is currently 11.08%.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 5,232 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $560.99, for a total transaction of $2,935,099.68. Following the completion of the transaction, the executive vice president now directly owns 2,544 shares in the company, valued at approximately $1,427,158.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas L. Rodgers sold 5,232 shares of McKesson stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $560.99, for a total value of $2,935,099.68. Following the sale, the executive vice president now owns 2,544 shares of the company’s stock, valued at approximately $1,427,158.56. The disclosure for this sale can be found here. Insiders sold 24,451 shares of company stock valued at $13,543,352 in the last 90 days. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McKesson

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sachetta LLC acquired a new stake in McKesson during the fourth quarter worth approximately $27,000. LRI Investments LLC purchased a new position in shares of McKesson during the 1st quarter worth $28,000. Register Financial Advisors LLC acquired a new stake in shares of McKesson during the first quarter worth $29,000. BKM Wealth Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at $31,000. Finally, Richardson Financial Services Inc. acquired a new position in McKesson in the fourth quarter valued at $31,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

About McKesson

(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.

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