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

McKesson Co. (NYSE:MCK) has earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $610.86.

Several analysts have issued reports on the company. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays upped their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Citigroup reduced their target price on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. JPMorgan Chase & Co. increased their price target on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the sale, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. LRI Investments LLC purchased a new stake in shares of McKesson in the 1st quarter valued at approximately $28,000. Register Financial Advisors LLC purchased a new position in McKesson in the first quarter valued at $29,000. Richardson Financial Services Inc. acquired a new stake in McKesson in the fourth quarter valued at $31,000. Rise Advisors LLC purchased a new stake in McKesson during the 1st quarter worth about $40,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $40,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Down 0.1 %

Shares of NYSE MCK opened at $505.59 on Friday. The stock has a market capitalization of $65.56 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. McKesson has a 52 week low of $431.35 and a 52 week high of $637.51. The firm has a 50-day simple moving average of $528.73 and a 200-day simple moving average of $552.97.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 0.94% and a negative return on equity of 242.57%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $7.27 EPS. As a group, equities research analysts expect that McKesson will post 32.07 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.56%. McKesson’s dividend payout ratio is presently 12.70%.

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.