McKesson Co. (NYSE:MCK) Receives Consensus Recommendation of “Hold” from Brokerages
McKesson Co. (NYSE:MCK) has earned a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $147.56.
Several brokerages have recently commented on MCK. JPMorgan Chase & Co. began coverage on McKesson in a report on Monday, July 22nd. They set an “overweight” rating and a $164.00 price objective for the company. Wolfe Research lowered McKesson from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. Guggenheim began coverage on McKesson in a report on Monday, July 22nd. They set a “neutral” rating and a $152.00 price objective for the company. Morgan Stanley increased their price objective on McKesson from $130.00 to $135.00 and gave the company an “equal weight” rating in a report on Tuesday, August 27th. Finally, Deutsche Bank began coverage on McKesson in a report on Thursday. They set a “hold” rating and a $155.00 price objective for the company.
McKesson stock traded down $2.16 during mid-day trading on Friday, reaching $143.94. 39,695 shares of the company were exchanged, compared to its average volume of 1,550,759. The business has a fifty day moving average of $142.48 and a 200 day moving average of $130.02. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.58 and a current ratio of 1.01. The firm has a market cap of $26.90 billion, a P/E ratio of 10.61, a PEG ratio of 1.44 and a beta of 1.13. McKesson has a 12-month low of $106.11 and a 12-month high of $150.82.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.41 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 30th. This represents a $1.64 dividend on an annualized basis and a yield of 1.14%. McKesson’s dividend payout ratio (DPR) is 12.09%.
In related news, SVP Sundeep G. Reddy sold 422 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $143.79, for a total value of $60,679.38. Following the completion of the transaction, the senior vice president now owns 1,268 shares in the company, valued at approximately $182,325.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lori A. Schechter sold 2,500 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $144.40, for a total value of $361,000.00. Following the completion of the transaction, the executive vice president now owns 4,535 shares of the company’s stock, valued at approximately $654,854. The disclosure for this sale can be found here. Insiders sold a total of 4,218 shares of company stock valued at $611,738 in the last 90 days. 0.88% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Gradient Investments LLC grew its position in McKesson by 1,944.4% during the 2nd quarter. Gradient Investments LLC now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new stake in McKesson during the 1st quarter worth about $27,000. Berman Capital Advisors LLC grew its position in McKesson by 175.2% during the 2nd quarter. Berman Capital Advisors LLC now owns 289 shares of the company’s stock worth $37,000 after purchasing an additional 184 shares during the period. CSat Investment Advisory L.P. grew its position in McKesson by 165.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 295 shares of the company’s stock worth $40,000 after purchasing an additional 184 shares during the period. Finally, Prestige Wealth Management Group LLC acquired a new stake in McKesson during the 2nd quarter worth about $42,000. 86.44% of the stock is currently owned by institutional investors.
McKesson Company Profile
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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