$59.54 Billion in Sales Expected for McKesson Co. (NYSE:MCK) This Quarter

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Wall Street analysts forecast that McKesson Co. (NYSE:MCK) will post sales of $59.54 billion for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for McKesson’s earnings. The lowest sales estimate is $57.55 billion and the highest is $60.41 billion. McKesson posted sales of $56.21 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The company is scheduled to report its next quarterly earnings report on Thursday, January 30th.

On average, analysts expect that McKesson will report full-year sales of $228.22 billion for the current financial year, with estimates ranging from $224.13 billion to $230.27 billion. For the next fiscal year, analysts anticipate that the business will report sales of $238.29 billion, with estimates ranging from $231.53 billion to $242.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover McKesson.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.60. McKesson had a negative net margin of 0.29% and a positive return on equity of 32.77%. The business had revenue of $57.62 billion for the quarter, compared to the consensus estimate of $55.06 billion. During the same period in the prior year, the company posted $3.60 earnings per share. McKesson’s revenue was up 8.6% compared to the same quarter last year.

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of McKesson from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 27th. TheStreet downgraded shares of McKesson from a “b” rating to a “c-” rating in a research report on Wednesday, October 30th. Deutsche Bank initiated coverage on McKesson in a research note on Thursday, September 12th. They issued a “hold” rating and a $155.00 price target for the company. ValuEngine downgraded McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, August 30th. Finally, Cleveland Research restated a “hold” rating on shares of McKesson in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $146.33.

NYSE MCK opened at $141.79 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 1.01 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $26.06 billion, a P/E ratio of 10.45, a P/E/G ratio of 1.44 and a beta of 1.14. McKesson has a 12-month low of $106.11 and a 12-month high of $154.79. The firm has a 50-day moving average price of $144.89 and a two-hundred day moving average price of $139.27.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, November 29th. McKesson’s payout ratio is presently 12.09%.

In other McKesson news, EVP Lori A. Schechter sold 2,500 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $144.40, for a total transaction of $361,000.00. Following the completion of the sale, the executive vice president now directly owns 4,535 shares in the company, valued at $654,854. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 6,000 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $135.00, for a total value of $810,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,192 shares in the company, valued at approximately $2,455,920. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,197 shares of company stock valued at $1,422,929. 0.88% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its position in McKesson by 2.1% in the second quarter. BlackRock Inc. now owns 15,097,053 shares of the company’s stock valued at $2,028,894,000 after acquiring an additional 308,554 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of McKesson by 8.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,072,824 shares of the company’s stock valued at $829,912,000 after purchasing an additional 482,098 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of McKesson by 4.8% in the 2nd quarter. Pzena Investment Management LLC now owns 3,860,785 shares of the company’s stock valued at $518,851,000 after purchasing an additional 177,589 shares in the last quarter. Northern Trust Corp grew its holdings in shares of McKesson by 1.4% during the 2nd quarter. Northern Trust Corp now owns 2,446,111 shares of the company’s stock valued at $328,734,000 after purchasing an additional 33,578 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of McKesson by 573.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,811,727 shares of the company’s stock valued at $243,478,000 after purchasing an additional 1,542,644 shares during the last quarter. Institutional investors own 87.34% of the company’s stock.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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