McKesson Co. (NYSE:MCK – Get Free Report)’s share price fell 6.1% on Thursday after Leerink Partners lowered their price target on the stock from $670.00 to $665.00. Leerink Partners currently has an outperform rating on the stock. McKesson traded as low as $534.80 and last traded at $536.67. 327,622 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 738,585 shares. The stock had previously closed at $571.28.
MCK has been the topic of several other reports. Bank of America increased their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. TD Cowen raised their target price on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Evercore ISI dropped their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Barclays upped their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $624.93.
View Our Latest Stock Analysis on MCK
Insider Buying and Selling
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of MCK. RFP Financial Group LLC increased its position in shares of McKesson by 9.8% during the 2nd 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 last quarter. Modera Wealth Management LLC grew its position in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after acquiring an additional 17 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after acquiring an additional 17 shares during the last quarter. First Western Trust Bank boosted its stake in shares of McKesson by 2.0% in the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after purchasing an additional 18 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings 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 purchasing an additional 19 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.
McKesson Stock Performance
The business’s 50-day moving average is $574.75 and its 200 day moving average is $557.29. The company has a market cap of $65.51 billion, a PE ratio of 22.53, a PEG ratio of 1.29 and a beta of 0.44.
McKesson (NYSE:MCK – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $7.27 EPS. Equities research analysts anticipate that McKesson Co. will post 32.14 EPS for the current fiscal year.
McKesson Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. McKesson’s payout ratio is presently 12.69%.
About McKesson
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.
Featured Articles
- Five stocks we like better than McKesson
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Does GTA VI Make Take-Two Interactive Stock an Irresistible Buy?
- Pros And Cons Of Monthly Dividend Stocks
- Why HPE’s Dip Is a Prime Opportunity for Blue-Chip AI Investors
- How to Use the MarketBeat Dividend Calculator
- Why Analysts See Big Upside for Occidental Petroleum Despite Lows
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.