McKesson Corp. (MCK) Price Target Cut to $183.00
McKesson Corp. (NYSE:MCK) had its target price dropped by Mizuho from $197.00 to $183.00 in a research note issued on Monday. The brokerage presently has a “neutral” rating on the stock. Mizuho’s target price indicates a potential upside of 10.00% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. Robert W. Baird reiterated a “buy” rating and set a $220.00 price target on shares of McKesson Corp. in a research note on Wednesday, June 29th. FBR & Co restated a “buy” rating and issued a $210.00 target price on shares of McKesson Corp. in a research note on Wednesday, June 29th. Vetr upgraded McKesson Corp. from a “hold” rating to a “buy” rating and set a $188.01 target price on the stock in a research note on Monday, June 27th. Morgan Stanley restated a “buy” rating on shares of McKesson Corp. in a research note on Tuesday, May 31st. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of McKesson Corp. in a research note on Thursday, June 30th. Nine investment 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. The stock presently has an average rating of “Buy” and a consensus price target of $201.17.
McKesson Corp. (NYSE:MCK) opened at 166.36 on Monday. The stock’s 50 day moving average price is $181.98 and its 200-day moving average price is $179.01. McKesson Corp. has a 52 week low of $148.29 and a 52 week high of $202.20. The company has a market cap of $37.55 billion, a price-to-earnings ratio of 17.28 and a beta of 0.95.
McKesson Corp. (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. The business earned $49.73 billion during the quarter, compared to the consensus estimate of $50.32 billion. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.14 EPS. On average, equities research analysts forecast that McKesson Corp. will post $13.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be issued a $0.28 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. McKesson Corp.’s payout ratio is currently 11.64%.
In other news, Director Wayne A. Budd sold 2,309 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $179.70, for a total value of $414,927.30. Following the transaction, the director now owns 723 shares of the company’s stock, valued at $129,923.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Marie L/Ca Knowles sold 915 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $192.73, for a total transaction of $176,347.95. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCK. Wade G W & Inc. boosted its position in McKesson Corp. by 2.8% in the first quarter. Wade G W & Inc. now owns 1,925 shares of the company’s stock valued at $303,000 after buying an additional 52 shares during the last quarter. Investment Centers of America Inc. boosted its position in McKesson Corp. by 39.4% in the first quarter. Investment Centers of America Inc. now owns 1,887 shares of the company’s stock valued at $295,000 after buying an additional 533 shares during the last quarter. Sii Investments Inc. WI boosted its position in McKesson Corp. by 109.7% in the first quarter. Sii Investments Inc. WI now owns 3,309 shares of the company’s stock valued at $521,000 after buying an additional 1,731 shares during the last quarter. Sanders Morris Harris Inc. purchased a new position in McKesson Corp. during the first quarter valued at $493,000. Finally, KLCM Advisors Inc. purchased a new position in McKesson Corp. during the first quarter valued at $8,712,000. 84.77% of the stock is currently owned by hedge funds and other institutional investors.
McKesson Corp. Company Profile
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.
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