McKesson (MCK) Scheduled to Post Quarterly Earnings on Tuesday

McKesson (NYSE:MCK) will issue its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of $6.39 per share for the quarter. McKesson has set its FY24 guidance at $27.25-$27.65 EPS and its FY 2024 guidance at 27.250-27.650 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same period last year, the company posted $6.90 earnings per share. McKesson’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts expect McKesson to post $28 EPS for the current fiscal year and $31 EPS for the next fiscal year.

McKesson Stock Down 0.3 %

Shares of NYSE:MCK opened at $528.86 on Friday. McKesson has a 52 week low of $352.34 and a 52 week high of $544.81. The stock has a market capitalization of $69.50 billion, a P/E ratio of 23.96, a PEG ratio of 1.41 and a beta of 0.45. The firm has a fifty day simple moving average of $530.38 and a two-hundred day simple moving average of $492.08.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is currently 11.24%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Morgan Stanley raised their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Citigroup raised their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $536.71.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 approximately $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.