Shares of McKesson Co. (NYSE:MCK – Get Rating) have received a consensus recommendation of "Buy" from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $352.46.
A number of equities analysts recently weighed in on MCK shares. UBS Group lifted their target price on shares of McKesson from $380.00 to $400.00 and gave the stock a "buy" rating in a research note on Thursday, August 4th. Cowen lifted their price target on shares of McKesson to $384.00 in a research note on Tuesday, August 9th. Argus lifted their price target on shares of McKesson from $370.00 to $430.00 and gave the company a "buy" rating in a research note on Monday, September 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of McKesson from $378.00 to $409.00 in a research note on Monday, August 8th. Finally, Credit Suisse Group lifted their price target on shares of McKesson from $377.00 to $385.00 and gave the company an "outperform" rating in a research note on Monday, August 8th.
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Insider Buying and Selling
In related news, EVP Lori A. Schechter sold 7,500 shares of the business's stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $343.94, for a total transaction of $2,579,550.00. Following the transaction, the executive vice president now directly owns 11,678 shares in the company, valued at $4,016,531.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other McKesson news, EVP Lori A. Schechter sold 7,500 shares of McKesson stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $343.94, for a total value of $2,579,550.00. Following the sale, the executive vice president now owns 11,678 shares of the company's stock, valued at $4,016,531.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas L. Rodgers sold 1,300 shares of McKesson stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $367.21, for a total transaction of $477,373.00. Following the completion of the sale, the executive vice president now directly owns 2,544 shares in the company, valued at approximately $934,182.24. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.
Institutional Trading of McKesson
Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Advisory LLC bought a new stake in McKesson in the fourth quarter worth about $25,000. Covestor Ltd raised its position in shares of McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company's stock valued at $25,000 after purchasing an additional 34 shares during the period. Riverview Trust Co bought a new stake in shares of McKesson in the first quarter valued at approximately $28,000. Core Alternative Capital raised its position in shares of McKesson by 1,257.1% in the first quarter. Core Alternative Capital now owns 95 shares of the company's stock valued at $29,000 after purchasing an additional 88 shares during the period. Finally, Lansing Street Advisors bought a new stake in shares of McKesson in the first quarter valued at approximately $31,000. Institutional investors own 86.43% of the company's stock.
McKesson Stock Down 0.6 %
Shares of NYSE MCK opened at $339.87 on Friday. McKesson has a twelve month low of $193.89 and a twelve month high of $375.23. The firm has a fifty day simple moving average of $353.53 and a 200 day simple moving average of $330.79. The company has a market capitalization of $48.85 billion, a PE ratio of 35.93, a P/E/G ratio of 1.42 and a beta of 0.59.
McKesson (NYSE:MCK – Get Rating) last announced its earnings results on Wednesday, August 3rd. The company reported $5.83 earnings per share for the quarter, topping analysts' consensus estimates of $5.31 by $0.52. McKesson had a net margin of 0.52% and a negative return on equity of 350.22%. The business had revenue of $67.15 billion during the quarter, compared to the consensus estimate of $63.87 billion. As a group, equities analysts expect that McKesson will post 24.42 earnings per share for the current fiscal year.
McKesson Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 1st will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This is a boost from McKesson's previous quarterly dividend of $0.47. This represents a $2.16 annualized dividend and a yield of 0.64%. McKesson's payout ratio is 22.83%.
McKesson Company Profile
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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). 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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