Traders Buy McKesson (MCK) on Weakness
Investors purchased shares of McKesson Co. (NYSE:MCK) on weakness during trading on Friday. $143.20 million flowed into the stock on the tick-up and $72.18 million flowed out of the stock on the tick-down, for a money net flow of $71.02 million into the stock. Of all stocks tracked, McKesson had the 16th highest net in-flow for the day. McKesson traded down ($1.42) for the day and closed at $170.36
Several equities analysts have recently weighed in on the stock. Mizuho set a $168.00 target price on shares of McKesson and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Needham & Company LLC set a $179.00 target price on shares of McKesson and gave the stock a “buy” rating in a research note on Monday, October 16th. Cowen upgraded shares of McKesson from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $176.00 to $189.00 in a research note on Tuesday, October 10th. Robert W. Baird reiterated a “buy” rating and issued a $200.00 target price on shares of McKesson in a research note on Wednesday. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $170.00 target price on shares of McKesson in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. McKesson has a consensus rating of “Hold” and a consensus price target of $174.85.
The firm has a market cap of $35,515.80, a P/E ratio of 8.08, a P/E/G ratio of 1.74 and a beta of 1.23. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $1.36 annualized dividend and a yield of 0.80%. McKesson’s dividend payout ratio is currently 6.45%.
In other McKesson news, Chairman John H. Hammergren sold 65,000 shares of McKesson stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $160.00, for a total transaction of $10,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Ingalls & Snyder LLC lifted its position in McKesson by 76.7% during the third quarter. Ingalls & Snyder LLC now owns 16,939 shares of the company’s stock valued at $2,602,000 after purchasing an additional 7,352 shares during the last quarter. Whittier Trust Co. lifted its position in McKesson by 1.5% during the third quarter. Whittier Trust Co. now owns 62,812 shares of the company’s stock valued at $9,649,000 after purchasing an additional 898 shares during the last quarter. River & Mercantile Asset Management LLP lifted its position in McKesson by 278.6% during the third quarter. River & Mercantile Asset Management LLP now owns 177,824 shares of the company’s stock valued at $27,321,000 after purchasing an additional 130,852 shares during the last quarter. Synovus Financial Corp lifted its position in McKesson by 62.8% during the third quarter. Synovus Financial Corp now owns 5,803 shares of the company’s stock valued at $890,000 after purchasing an additional 2,238 shares during the last quarter. Finally, Cypress Capital Management LLC lifted its position in McKesson by 77.4% during the second quarter. Cypress Capital Management LLC now owns 3,861 shares of the company’s stock valued at $635,000 after purchasing an additional 1,684 shares during the last quarter. Institutional investors and hedge funds own 87.91% of the company’s stock.
McKesson Company Profile
McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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