McKesson (NYSE:MCK) Rating Increased to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of McKesson (NYSE:MCK) from a neutral rating to an outperform rating in a report published on Thursday, MarketBeat reports. Robert W. Baird currently has $688.00 price target on the stock, up from their prior price target of $531.00.

A number of other brokerages have also issued reports on MCK. JPMorgan Chase & Co. raised their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays lifted their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Evercore ISI dropped their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $625.64.

McKesson Trading Up 0.9 %

Shares of MCK opened at $613.00 on Thursday. The company’s fifty day simple moving average is $513.03 and its 200-day simple moving average is $551.74. The company has a market cap of $79.49 billion, a P/E ratio of 31.75, a P/E/G ratio of 1.29 and a beta of 0.44. McKesson has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 243.82%. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the company posted $6.23 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Analysts predict that McKesson will post 31.92 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio is presently 14.71%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On McKesson

Institutional investors and hedge funds have recently bought and sold shares of the company. Norden Group LLC acquired a new stake in McKesson in the 1st quarter worth approximately $295,000. Geneos Wealth Management Inc. lifted its stake in shares of McKesson by 16.4% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the company’s stock worth $320,000 after buying an additional 84 shares during the period. Duality Advisers LP purchased a new stake in shares of McKesson during the first quarter valued at $571,000. Envestnet Portfolio Solutions Inc. increased its position in shares of McKesson by 5.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 17,070 shares of the company’s stock valued at $9,164,000 after acquiring an additional 915 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in McKesson by 206.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,672 shares of the company’s stock worth $1,971,000 after acquiring an additional 2,473 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

About McKesson

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.