McKesson (NYSE:MCK) Sets New 12-Month High After Analyst Upgrade

McKesson Co. (NYSE:MCK)’s share price reached a new 52-week high on Monday after Argus raised their price target on the stock from $570.00 to $670.00. Argus currently has a buy rating on the stock. McKesson traded as high as $608.00 and last traded at $605.45, with a volume of 23339 shares. The stock had previously closed at $603.08.

MCK has been the subject of several other reports. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 18th. Citigroup raised their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Morgan Stanley raised their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $578.13.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 600 shares of McKesson stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the sale, the executive vice president now owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Maria Martinez sold 483 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 600 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the sale, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,814 shares of company stock valued at $14,511,649. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On McKesson

Hedge funds have recently modified their holdings of the business. Sachetta LLC bought a new stake in shares of McKesson during the 4th quarter valued at $27,000. LRI Investments LLC purchased a new position in shares of McKesson during the 1st quarter valued at $28,000. Register Financial Advisors LLC purchased a new position in shares of McKesson during the 1st quarter valued at $29,000. BKM Wealth Management LLC purchased a new position in shares of McKesson during the 4th quarter valued at $31,000. Finally, Richardson Financial Services Inc. purchased a new position in shares of McKesson during the 4th quarter valued at $31,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.4 %

The business’s 50 day moving average is $558.51 and its two-hundred day moving average is $520.62. The company has a market cap of $78.71 billion, a PE ratio of 26.95, a PEG ratio of 1.41 and a beta of 0.47.

McKesson (NYSE:MCK) last released its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter last year, the firm posted $7.19 EPS. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts predict that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s payout ratio is currently 11.08%.

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.