Research Analysts’ Recent Ratings Updates for McKesson (MCK)

McKesson (NYSE: MCK) has recently received a number of price target changes and ratings updates:

• 9/27/2024 – McKesson was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 9/25/2024 – McKesson had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $623.00 to $579.00. They now have a “buy” rating on the stock.
• 9/24/2024 – McKesson had its “neutral” rating reaffirmed by analysts at Robert W. Baird. They now have a $531.00 price target on the stock, down previously from $603.00.
• 9/24/2024 – McKesson was downgraded by analysts at Baird R W from a “strong-buy” rating to a “hold” rating.
• 9/13/2024 – McKesson had its price target lowered by analysts at Wells Fargo & Company from $576.00 to $535.00. They now have an “equal weight” rating on the stock.
• 9/10/2024 – McKesson had its price target lowered by analysts at Citigroup Inc. from $670.00 to $630.00. They now have a “buy” rating on the stock.
• 9/5/2024 – McKesson had its price target lowered by analysts at Leerink Partners from $670.00 to $665.00. They now have an “outperform” rating on the stock.
• 8/21/2024 – McKesson had its price target raised by analysts at JPMorgan Chase & Co. from $656.00 to $661.00. They now have an “overweight” rating on the stock.
• 8/9/2024 – McKesson was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 8/8/2024 – McKesson had its price target raised by analysts at Barclays PLC from $596.00 to $616.00. They now have an “overweight” rating on the stock.
• 8/8/2024 – McKesson had its price target lowered by analysts at Evercore ISI from $660.00 to $630.00. They now have an “outperform” rating on the stock.
• 8/8/2024 – McKesson had its price target lowered by analysts at Robert W. Baird from $694.00 to $671.00. They now have an “outperform” rating on the stock.
• 8/8/2024 – McKesson had its price target raised by analysts at Mizuho from $540.00 to $570.00. They now have a “neutral” rating on the stock.

McKesson Price Performance

Shares of NYSE:MCK traded down $2.76 during midday trading on Thursday, hitting $486.02. 169,635 shares of the company’s stock were exchanged, compared to its average volume of 805,222. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a market cap of $63.15 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The stock has a 50 day moving average price of $545.30 and a 200-day moving average price of $554.86.

McKesson (NYSE:MCK) last posted its 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. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter in the prior year, the business posted $7.27 EPS. The business’s revenue was up 6.4% compared to the same quarter last year. On average, analysts anticipate that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.58%. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were 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 in the company, valued at $44,094,604.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On McKesson

Several institutional investors have recently bought and sold shares of MCK. JPMorgan Chase & Co. grew its position in shares of McKesson by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after buying an additional 46,659 shares during the last quarter. Putnam Investments LLC raised its holdings in McKesson by 3.2% in the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after purchasing an additional 62,242 shares in the last quarter. Legal & General Group Plc lifted its position in shares of McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after purchasing an additional 36,583 shares during the period. Swedbank AB purchased a new position in shares of McKesson during the first quarter valued at about $669,326,000. Finally, Boston Partners raised its stake in McKesson by 4.1% in the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after buying an additional 47,140 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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.