McKesson (NYSE:MCK) Shares Up 0.5%

McKesson Co. (NYSE:MCKGet Free Report) traded up 0.5% on Monday . The company traded as high as $563.86 and last traded at $560.73. 512,300 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 709,698 shares. The stock had previously closed at $558.03.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. SVB Leerink assumed coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Evercore ISI boosted their price objective on McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Morgan Stanley boosted their price objective on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Argus boosted their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $571.47.

Get Our Latest Analysis on McKesson

McKesson Price Performance

The company has a 50-day simple moving average of $538.64 and a 200-day simple moving average of $503.18. The stock has a market cap of $72.89 billion, a PE ratio of 25.05, a PEG ratio of 1.31 and a beta of 0.45.

McKesson (NYSE:MCKGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The business had revenue of $76.36 billion during 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%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.19 EPS. On average, equities analysts expect that McKesson Co. will post 31.57 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is 11.08%.

Insider Buying and Selling at McKesson

In other McKesson news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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, Director Susan R. Salka sold 606 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,080 shares of company stock valued at $2,160,489. Insiders own 0.21% of the company’s stock.

Institutional Trading of McKesson

A number of large investors have recently made changes to their positions in MCK. Massachusetts Financial Services Co. MA lifted its position in McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after buying an additional 708,438 shares during the period. JPMorgan Chase & Co. lifted its position in McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after buying an additional 46,659 shares during the period. Morgan Stanley lifted its position in McKesson by 14.0% during the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares during the period. Norges Bank purchased a new position in McKesson during the fourth quarter worth about $1,024,140,000. Finally, Putnam Investments LLC lifted its position in McKesson by 3.2% during the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after buying an additional 62,242 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

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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