McKesson Co. (NYSE:MCK) Receives $631.57 Average Price Target from Analysts

McKesson Co. (NYSE:MCK) has earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $635.86.

A number of equities analysts have recently weighed in on the stock. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday. They issued a “neutral” rating and a $630.00 price objective for the company. Evercore ISI upped their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. lifted their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st.

McKesson Trading Down 1.0 %

NYSE MCK opened at $611.91 on Monday. The business’s 50 day moving average is $549.95 and its two-hundred day moving average is $561.22. McKesson has a 12-month low of $431.35 and a 12-month high of $637.51. The stock has a market capitalization of $77.68 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 1.34 and a beta of 0.49.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm earned $6.23 EPS. Equities analysts forecast that McKesson will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Hedge Funds Weigh In On McKesson

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas bought a new stake in shares of McKesson in the 3rd quarter worth approximately $7,804,000. Beaird Harris Wealth Management LLC grew its position in McKesson by 7,000.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 426 shares of the company’s stock worth $211,000 after buying an additional 420 shares during the last quarter. Old North State Trust LLC grew its position in McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares during the last quarter. Synovus Financial Corp increased its holdings in shares of McKesson by 5.1% in the third quarter. Synovus Financial Corp now owns 3,391 shares of the company’s stock valued at $1,678,000 after buying an additional 166 shares in the last quarter. Finally, Castellan Group increased its holdings in shares of McKesson by 4.0% in the third quarter. Castellan Group now owns 10,200 shares of the company’s stock valued at $5,043,000 after buying an additional 391 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

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.