McKesson Corp. (MCK) Rating Lowered to Hold at Standpoint Research
McKesson Corp. (NYSE:MCK) was downgraded by equities research analysts at Standpoint Research from a “buy” rating to a “hold” rating in a report released on Friday.
MCK has been the topic of a number of other research reports. Vetr upgraded shares of McKesson Corp. from a “buy” rating to a “strong-buy” rating in a report on Friday, September 16th. Zacks Investment Research cut shares of McKesson Corp. from a “hold” rating to a “sell” rating in a report on Thursday, September 29th. Leerink Swann restated an “outperform” rating and issued a $230.00 target price on shares of McKesson Corp. in a report on Thursday, September 1st. Mizuho dropped their target price on shares of McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating on the stock in a report on Monday, September 26th. Finally, Robert W. Baird cut shares of McKesson Corp. from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $200.00 to $164.00 in a report on Friday, October 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. McKesson Corp. currently has a consensus rating of “Hold” and an average target price of $191.95.
Shares of McKesson Corp. (NYSE:MCK) opened at 143.69 on Friday. The company has a market cap of $32.49 billion, a PE ratio of 17.22 and a beta of 1.02. McKesson Corp. has a one year low of $114.53 and a one year high of $202.20. The firm’s 50-day moving average is $154.36 and its 200-day moving average is $176.34.
McKesson Corp. (NYSE:MCK) last posted its quarterly earnings results on Thursday, October 27th. The company reported $2.94 EPS for the quarter, missing the Zacks’ consensus estimate of $3.05 by $0.11. McKesson Corp. had a net margin of 0.99% and a return on equity of 29.85%. The firm had revenue of $49.96 billion for the quarter, compared to analysts’ expectations of $24.16 billion. During the same quarter in the previous year, the company earned $3.31 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities analysts anticipate that McKesson Corp. will post $12.53 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 2nd. Investors of record on Thursday, December 1st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $1.12 annualized dividend and a yield of 0.78%. McKesson Corp.’s payout ratio is 13.45%.
In related news, Chairman John H. Hammergren sold 100,500 shares of the firm’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $184.22, for a total transaction of $18,514,110.00. Following the completion of the transaction, the chairman now directly owns 100,500 shares of the company’s stock, valued at $18,514,110. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Christine Jacobs sold 915 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $193.78, for a total transaction of $177,308.70. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Panagora Asset Management Inc. boosted its position in shares of McKesson Corp. by 19.9% in the third quarter. Panagora Asset Management Inc. now owns 686,771 shares of the company’s stock worth $114,519,000 after buying an additional 114,006 shares during the last quarter. National Asset Management Inc. boosted its position in shares of McKesson Corp. by 10.8% in the third quarter. National Asset Management Inc. now owns 1,953 shares of the company’s stock worth $327,000 after buying an additional 190 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of McKesson Corp. by 37.5% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 5,500 shares of the company’s stock worth $917,000 after buying an additional 1,500 shares during the last quarter. Capital Research Global Investors boosted its position in shares of McKesson Corp. by 27.3% in the third quarter. Capital Research Global Investors now owns 11,486,482 shares of the company’s stock worth $1,915,371,000 after buying an additional 2,465,070 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its position in shares of McKesson Corp. by 29.7% in the third quarter. Gotham Asset Management LLC now owns 235,225 shares of the company’s stock worth $39,224,000 after buying an additional 53,847 shares during the last quarter. 83.32% of the stock is owned by institutional investors.
McKesson Corp. Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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