McKesson Co. (MCK) Lifted to “Overweight” at JPMorgan Chase & Co.
JPMorgan Chase & Co. upgraded shares of McKesson Co. (NYSE:MCK) from a neutral rating to an overweight rating in a research note published on Tuesday morning. The firm currently has $189.00 target price on the stock.
MCK has been the topic of several other reports. Jefferies Group LLC assumed coverage on McKesson in a report on Wednesday, May 17th. They issued a hold rating and a $153.00 target price on the stock. Credit Suisse Group AG reaffirmed a sell rating on shares of McKesson in a report on Friday, March 3rd. Evercore ISI reaffirmed an outperform rating and issued a $166.00 target price on shares of McKesson in a report on Monday, April 17th. Needham & Company LLC assumed coverage on McKesson in a report on Tuesday, April 4th. They issued a hold rating on the stock. Finally, Vetr cut McKesson from a strong-buy rating to a buy rating and set a $157.86 target price on the stock. in a report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $169.60.
McKesson (NYSE:MCK) opened at 162.36 on Tuesday. The stock has a 50 day moving average price of $143.53 and a 200-day moving average price of $144.53. The stock has a market capitalization of $34.42 billion, a PE ratio of 7.14 and a beta of 1.06. McKesson has a 12-month low of $114.53 and a 12-month high of $199.43.
McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 18th. The company reported $3.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.04 by $0.35. McKesson had a return on equity of 30.05% and a net margin of 0.97%. The firm had revenue of $48.71 billion for the quarter, compared to analysts’ expectations of $49.48 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that McKesson will post $12.14 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, June 1st. McKesson’s dividend payout ratio (DPR) is currently 13.25%.
In related news, Chairman John H. Hammergren sold 100,500 shares of the business’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $150.44, for a total transaction of $15,119,220.00. Following the transaction, the chairman now owns 22,390 shares of the company’s stock, valued at $3,368,351.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.15% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Arizona State Retirement System raised its position in shares of McKesson by 0.5% in the third quarter. Arizona State Retirement System now owns 57,158 shares of the company’s stock worth $9,531,000 after buying an additional 300 shares during the period. Monashee Investment Management LLC acquired a new stake in McKesson during the third quarter worth $3,335,000. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in McKesson by 2.4% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 80,025 shares of the company’s stock worth $13,344,000 after buying an additional 1,842 shares in the last quarter. Honkamp Krueger Financial Services Inc. ADV acquired a new stake in McKesson during the fourth quarter worth $594,000. Finally, Hartford Investment Management Co. increased its stake in McKesson by 3.4% in the third quarter. Hartford Investment Management Co. now owns 58,606 shares of the company’s stock worth $9,773,000 after buying an additional 1,922 shares in the last quarter. 87.81% of the stock is currently owned by institutional investors and hedge funds.
McKesson 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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