McKesson (NYSE:MCK) Price Target Cut to $1,000.00 by Analysts at Bank of America

McKesson (NYSE:MCK) had its price objective lowered by Bank of America from $1,040.00 to $1,000.00 in a report published on Monday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Barclays increased their price target on shares of McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Mizuho increased their price target on shares of McKesson from $880.00 to $885.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Leerink Partners restated an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a report on Thursday, March 5th. Finally, Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $970.93.

McKesson Price Performance

Shares of NYSE MCK opened at $855.97 on Monday. McKesson has a one year low of $637.00 and a one year high of $999.00. The firm’s 50 day simple moving average is $913.18 and its two-hundred day simple moving average is $847.86. The stock has a market capitalization of $104.85 billion, a P/E ratio of 24.62, a PEG ratio of 1.26 and a beta of 0.42.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, beating analysts’ consensus estimates of $9.19 by $0.15. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. The business had revenue of $106.16 billion for the quarter, compared to analysts’ expectations of $105.98 billion. During the same period last year, the business earned $8.03 earnings per share. The business’s quarterly revenue was up 11.4% on a year-over-year basis. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. As a group, equities analysts expect that McKesson will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 9.43%.

Insider Transactions at McKesson

In other McKesson news, Director Maria Martinez sold 349 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total transaction of $328,014.63. Following the completion of the transaction, the director owned 301 shares of the company’s stock, valued at approximately $282,900.87. This trade represents a 53.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $955.00, for a total value of $313,240.00. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 3,592 shares of company stock worth $3,518,555. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On McKesson

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCK. GGM Financials LLC purchased a new position in McKesson during the third quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in McKesson during the fourth quarter valued at $25,000. Swiss RE Ltd. purchased a new position in McKesson during the fourth quarter valued at $26,000. State of Wyoming purchased a new position in shares of McKesson in the 2nd quarter worth about $29,000. Finally, Hopwood Financial Services Inc. purchased a new position in shares of McKesson in the 3rd quarter worth about $31,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.