McKesson (NYSE:MCK) Trading Up 0.3%

McKesson Co. (NYSE:MCK) traded up 0.3% during mid-day trading on Wednesday . The company traded as high as $557.95 and last traded at $553.83. 145,637 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 705,362 shares. The stock had previously closed at $552.39.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Wells Fargo & Company boosted their price target on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 9th. Citigroup boosted their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Barclays boosted their price target on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, SVB Leerink initiated coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $571.47.

McKesson Price Performance

The stock has a market cap of $72.89 billion, a price-to-earnings ratio of 24.99, a P/E/G ratio of 1.30 and a beta of 0.45. The business’s 50 day moving average is $538.10 and its 200 day moving average is $501.87.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the prior year, the company earned $7.19 EPS. The business’s revenue was up 10.8% on a year-over-year basis. As a group, analysts forecast that McKesson Co. will post 31.57 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s payout ratio is 11.08%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Susan R. Salka sold 606 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,080 shares of company stock valued at $2,160,489. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MCK. First Western Trust Bank grew its stake in shares of McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after buying an additional 18 shares during the period. Lindbrook Capital LLC grew its stake in shares of McKesson by 1.7% during the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after buying an additional 19 shares during the period. KCM Investment Advisors LLC grew its stake in shares of McKesson by 1.4% during the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock valued at $727,000 after buying an additional 19 shares during the period. TCI Wealth Advisors Inc. grew its stake in shares of McKesson by 1.3% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,531 shares of the company’s stock valued at $822,000 after buying an additional 19 shares during the period. Finally, Douglass Winthrop Advisors LLC grew its stake in shares of McKesson by 1.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock valued at $700,000 after buying an additional 21 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.