McKesson (NYSE:MCK) Posts Quarterly Earnings Results, Misses Estimates By $0.57 EPS

McKesson (NYSE:MCK) issued its quarterly earnings results on Wednesday. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57), Zacks reports. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%.

McKesson Price Performance

MCK stock traded down $14.34 during midday trading on Thursday, hitting $592.57. The stock had a trading volume of 729,023 shares, compared to its average volume of 715,891. McKesson has a 12-month low of $464.42 and a 12-month high of $637.51. The firm has a market cap of $75.22 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company’s 50-day moving average price is $589.61 and its 200 day moving average price is $562.56.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s payout ratio is currently 14.71%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent research reports. Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

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.