Brokerages Set McKesson Corp. (MCK) PT at $206.36
McKesson Corp. (NYSE:MCK) has earned a consensus recommendation of “Buy” from the twenty ratings firms that are presently covering the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $206.36.
A number of equities analysts recently issued reports on MCK shares. Robert W. Baird reiterated a “buy” rating and issued a $220.00 target price on shares of McKesson Corp. in a research report on Wednesday, June 29th. FBR & Co restated a “buy” rating and set a $210.00 price objective on shares of McKesson Corp. in a research report on Wednesday, June 29th. Vetr upgraded shares of McKesson Corp. from a “hold” rating to a “buy” rating and set a $188.01 price objective for the company in a research report on Monday, June 27th. Citigroup Inc. raised their price objective on shares of McKesson Corp. from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Finally, Deutsche Bank AG restated a “buy” rating on shares of McKesson Corp. in a research report on Monday, July 18th.
McKesson Corp. (NYSE:MCK) opened at 161.00 on Wednesday. The firm has a market cap of $36.34 billion, a price-to-earnings ratio of 16.72 and a beta of 0.93. McKesson Corp. has a 12 month low of $148.29 and a 12 month high of $202.20. The company’s 50-day moving average is $171.17 and its 200 day moving average is $179.23.
McKesson Corp. (NYSE:MCK) last announced its earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.33 by $0.17. The firm earned $49.73 billion during the quarter, compared to analyst estimates of $50.32 billion. McKesson Corp. had a net margin of 1.15% and a return on equity of 31.62%. McKesson Corp.’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.14 EPS. On average, equities research analysts predict that McKesson Corp. will post $13.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.12 annualized dividend and a yield of 0.70%. McKesson Corp.’s dividend payout ratio (DPR) is presently 11.64%.
In other news, SVP Erin M. Lampert sold 1,739 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $165.94, for a total value of $288,569.66. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Marie L/Ca Knowles sold 915 shares of the firm’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. Company insiders own 1.15% of the company’s stock.
Large investors have recently made changes to their positions in the company. Parametric Risk Advisors LLC bought a new stake in shares of McKesson Corp. during the first quarter valued at about $448,000. Sentry Investments Corp. increased its stake in shares of McKesson Corp. by 5.9% in the first quarter. Sentry Investments Corp. now owns 927,150 shares of the company’s stock valued at $145,794,000 after buying an additional 51,750 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of McKesson Corp. during the first quarter valued at about $885,000. Scotia Capital Inc. increased its stake in shares of McKesson Corp. by 162.8% in the first quarter. Scotia Capital Inc. now owns 97,324 shares of the company’s stock valued at $15,312,000 after buying an additional 60,286 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of McKesson Corp. by 1,404.2% in the first quarter. Meeder Asset Management Inc. now owns 2,858 shares of the company’s stock valued at $449,000 after buying an additional 2,668 shares during the last quarter. Institutional investors and hedge funds own 84.77% of the company’s stock.
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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