McKesson Co. (NYSE:MCK) Receives $650.14 Average PT from Brokerages

McKesson Co. (NYSE:MCK) has received an average rating of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $650.14.

Several analysts have commented on MCK shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI upped their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

Institutional Trading of McKesson

Large investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its position in McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares during the period. FMR LLC grew its holdings in shares of McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the period. Geode Capital Management LLC increased its position in McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock valued at $1,306,873,000 after acquiring an additional 26,299 shares during the last quarter. Legal & General Group Plc lifted its holdings in McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after acquiring an additional 36,583 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

MCK opened at $566.21 on Friday. McKesson has a one year low of $464.42 and a one year high of $637.51. The business has a 50 day simple moving average of $583.30 and a two-hundred day simple moving average of $562.25. The firm has a market capitalization of $71.87 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.23 earnings per share. As a group, sell-side analysts expect that McKesson will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.50%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.