McKesson Co. (NYSE:MCK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of McKesson Co. (NYSE:MCK) have been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $631.57.

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Evercore ISI raised their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th.

McKesson Trading Up 1.1 %

MCK opened at $624.61 on Thursday. The firm has a market cap of $79.29 billion, a P/E ratio of 32.35, a P/E/G ratio of 1.33 and a beta of 0.44. The stock has a 50-day moving average of $515.00 and a 200 day moving average of $552.91. McKesson has a 12 month low of $431.35 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.23 earnings per share. On average, research analysts forecast that McKesson will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. McKesson’s dividend payout ratio is currently 14.71%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by insiders.

Institutional Investors Weigh In On McKesson

Institutional investors have recently modified their holdings of the business. RFP Financial Group LLC grew its holdings in McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after purchasing an additional 17 shares during the period. Modera Wealth Management LLC raised its position in shares of McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares during the last quarter. Larson Financial Group LLC raised its position in shares of McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after purchasing an additional 17 shares during the last quarter. First Western Trust Bank lifted its position in shares of McKesson by 2.0% in the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after acquiring an additional 18 shares in the last quarter. Finally, KCM Investment Advisors LLC increased its position in shares of McKesson by 1.4% during the first quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after purchasing an additional 19 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.