Brokerages Set McKesson Corporation (NYSE:MCK) Price Target at $970.73

McKesson Corporation (NYSE:MCK) has been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $968.8667.

A number of research firms have issued reports on MCK. Wells Fargo & Company decreased their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Mizuho lifted their price target on shares of McKesson from $880.00 to $885.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Morgan Stanley reissued an “overweight” rating and set a $966.00 price objective on shares of McKesson in a research report on Thursday, January 29th. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research report on Thursday, March 5th.

Insider Transactions at McKesson

In related news, Director Maria Martinez sold 349 shares of McKesson stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total value of $328,014.63. Following the sale, the director owned 301 shares of the company’s stock, valued at approximately $282,900.87. This trade represents a 53.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 190 shares of McKesson stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total value of $179,550.00. Following the completion of the sale, the executive vice president directly owned 2,989 shares in the company, valued at approximately $2,824,605. This represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,264 shares of company stock valued at $3,205,315 over the last three months. Company insiders own 0.08% of the company’s stock.

Institutional Trading of McKesson

A number of institutional investors have recently made changes to their positions in the business. GGM Financials LLC acquired a new stake in McKesson in the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson during the 4th quarter worth about $25,000. Swiss RE Ltd. acquired a new position in shares of McKesson during the 4th quarter worth about $26,000. State of Wyoming acquired a new position in shares of McKesson during the 2nd quarter worth about $29,000. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of McKesson in the third quarter valued at about $31,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $759.82 on Monday. The stock has a 50-day moving average of $854.83 and a 200-day moving average of $857.22. McKesson has a one year low of $637.00 and a one year high of $999.00. The stock has a market cap of $91.33 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.11 and a beta of 0.35.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts anticipate that McKesson will post 44.29 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s payout ratio is 8.53%.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.