McKesson Corp. (MCK) Receives $191.00 Average PT from Analysts
McKesson Corp. (NYSE:MCK) has been assigned an average recommendation of “Hold” from the twenty-one analysts that are covering the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $191.00.
Several analysts have recently commented on the company. Morgan Stanley raised their target price on McKesson Corp. from $199.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Citigroup Inc. raised their target price on McKesson Corp. from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Mizuho lifted their price objective on McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. lifted their price objective on McKesson Corp. from $210.00 to $221.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Finally, Zacks Investment Research cut McKesson Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 1st.
In related news, Chairman John H. Hammergren sold 100,500 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $184.22, for a total transaction of $18,514,110.00. Following the transaction, the chairman now directly owns 100,500 shares in the company, valued at $18,514,110. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M Christine Jacobs sold 915 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $193.78, for a total value 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 modified their holdings of MCK. Boothbay Fund Management LLC raised its position in shares of McKesson Corp. by 11.3% in the first quarter. Boothbay Fund Management LLC now owns 7,901 shares of the company’s stock valued at $1,242,000 after buying an additional 799 shares in the last quarter. Sector Gamma AS raised its position in shares of McKesson Corp. by 174.4% in the first quarter. Sector Gamma AS now owns 88,640 shares of the company’s stock valued at $13,939,000 after buying an additional 56,340 shares in the last quarter. First Republic Investment Management Inc. raised its position in shares of McKesson Corp. by 55.8% in the first quarter. First Republic Investment Management Inc. now owns 36,976 shares of the company’s stock valued at $5,815,000 after buying an additional 13,242 shares in the last quarter. Quantum Capital Management raised its position in shares of McKesson Corp. by 7.5% in the first quarter. Quantum Capital Management now owns 3,253 shares of the company’s stock valued at $512,000 after buying an additional 226 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of McKesson Corp. by 204.5% in the first quarter. Squarepoint Ops LLC now owns 13,473 shares of the company’s stock valued at $2,119,000 after buying an additional 9,049 shares in the last quarter. Hedge funds and other institutional investors own 83.32% of the company’s stock.
McKesson Corp. (NYSE:MCK) opened at 140.05 on Wednesday. The stock has a market cap of $31.66 billion, a P/E ratio of 16.79 and a beta of 1.02. The company has a 50-day moving average price of $151.34 and a 200-day moving average price of $175.51. McKesson Corp. has a one year low of $114.53 and a one year high of $202.20.
McKesson Corp. (NYSE:MCK) last issued its earnings results on Thursday, October 27th. The company reported $2.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.05 by $0.11. The business earned $49.96 billion during the quarter, compared to analyst estimates of $24.16 billion. McKesson Corp. had a return on equity of 29.85% and a net margin of 0.99%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the business earned $3.31 EPS. On average, analysts anticipate that McKesson Corp. will post $12.53 earnings per share for the current year.
The company also recently declared 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 0.80%. McKesson Corp.’s dividend payout ratio is 13.45%.
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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