McKesson Co. (NYSE:MCK) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of McKesson Co. (NYSE:MCK) have received a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $686.69.

MCK has been the subject of a number of analyst reports. Bank of America upped their target price on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley upped their price target on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Wells Fargo & Company upped their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Finally, Wall Street Zen downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 21st.

Insider Buying and Selling at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the sale, the chief financial officer now owns 14,760 shares in the company, valued at approximately $10,587,348. This represents a 30.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer now owns 1,972 shares of the company’s stock, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,127 shares of company stock valued at $5,834,498. 0.11% of the stock is owned by insiders.

Institutional Trading of McKesson

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. WBI Investments LLC purchased a new position in shares of McKesson during the 1st quarter worth approximately $2,398,000. Acadian Asset Management LLC boosted its position in McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after buying an additional 68,294 shares during the period. Geneos Wealth Management Inc. boosted its position in McKesson by 14.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,307 shares of the company’s stock valued at $880,000 after buying an additional 163 shares during the period. Belpointe Asset Management LLC boosted its position in McKesson by 11.6% in the 1st quarter. Belpointe Asset Management LLC now owns 1,880 shares of the company’s stock valued at $1,265,000 after buying an additional 195 shares during the period. Finally, Intech Investment Management LLC boosted its position in McKesson by 39.8% in the 1st quarter. Intech Investment Management LLC now owns 41,702 shares of the company’s stock valued at $28,065,000 after buying an additional 11,881 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 0.7%

McKesson stock opened at $715.44 on Monday. The business has a fifty day moving average of $689.88 and a two-hundred day moving average of $634.48. The firm has a market cap of $89.51 billion, a P/E ratio of 32.76, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson has a twelve month low of $464.42 and a twelve month high of $731.00.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. McKesson’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.18 earnings per share. Equities analysts expect that McKesson will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is 10.99%.

McKesson Company Profile

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.