McKesson Corporation (MCK) PT Set at $140.00 by Leerink Swann
McKesson Corporation (NYSE:MCK) has been given a $140.00 target price by Leerink Swann in a research note issued to investors on Friday, May 19th. The brokerage presently has a “hold” rating on the stock. Leerink Swann’s price objective indicates a potential downside of 12.41% from the stock’s previous close.
Several other research firms also recently weighed in on MCK. Vetr downgraded shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 target price for the company. in a research report on Thursday, May 4th. Citigroup Inc. boosted their target price on shares of McKesson Corporation from $169.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, March 6th. Zacks Investment Research downgraded shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Barclays PLC reaffirmed an “overweight” rating and set a $174.00 price objective on shares of McKesson Corporation in a research report on Thursday, April 27th. Finally, Needham & Company LLC assumed coverage on shares of McKesson Corporation in a research report on Tuesday, April 4th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. McKesson Corporation currently has a consensus rating of “Hold” and a consensus target price of $170.89.
McKesson Corporation (NYSE:MCK) traded down 2.49% during trading on Friday, reaching $159.83. The company had a trading volume of 2,961,291 shares. The company has a market capitalization of $33.71 billion, a PE ratio of 7.03 and a beta of 1.15. The stock has a 50 day moving average price of $153.24 and a 200-day moving average price of $146.90. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $199.43.
McKesson Corporation (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 18th. The company reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.35. The firm had revenue of $48.71 billion for the quarter, compared to analyst estimates of $49.48 billion. McKesson Corporation had a net margin of 2.55% and a return on equity of 29.99%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.44 EPS. On average, equities research analysts anticipate that McKesson Corporation will post $12.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 5th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, June 1st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. McKesson Corporation’s dividend payout ratio is currently 4.80%.
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In other news, Chairman John H. Hammergren sold 19,316 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $162.31, for a total transaction of $3,135,179.96. Following the sale, the chairman now owns 96,644 shares in the company, valued at $15,686,287.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John H. Hammergren sold 100,500 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now owns 22,390 shares in the company, valued at approximately $3,368,351.60. The disclosure for this sale can be found here. Insiders have sold 159,648 shares of company stock worth $24,773,475 in the last 90 days. 1.15% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in McKesson Corporation by 0.9% in the first quarter. Wellington Management Group LLP now owns 22,730,846 shares of the company’s stock worth $3,370,074,000 after buying an additional 192,254 shares in the last quarter. BlackRock Inc. raised its stake in McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after buying an additional 13,531,173 shares in the last quarter. Capital Research Global Investors raised its stake in McKesson Corporation 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 in the last quarter. State Street Corp raised its stake in McKesson Corporation by 5.5% in the fourth quarter. State Street Corp now owns 9,936,920 shares of the company’s stock worth $1,395,638,000 after buying an additional 520,070 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in McKesson Corporation during the first quarter worth about $191,000. Institutional investors and hedge funds own 89.85% of the company’s stock.
McKesson Corporation 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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