McKesson (NYSE:MCK) Stock Price Up 0.7%

Shares of McKesson Co. (NYSE:MCK) were up 0.7% on Thursday . The stock traded as high as $564.22 and last traded at $561.26. Approximately 147,601 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 706,003 shares. The stock had previously closed at $557.38.

Analyst Ratings Changes

Several equities research analysts have weighed in on MCK shares. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Deutsche Bank Aktiengesellschaft lowered their target price on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Evercore ISI upped their target price on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Mizuho upped their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Barclays upped their target price on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $571.47.

McKesson Stock Up 0.5 %

The firm has a fifty day moving average price of $538.64 and a 200-day moving average price of $502.57. The firm has a market cap of $72.89 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 1.30 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.19 EPS. Equities research analysts anticipate that McKesson Co. will post 31.57 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio is currently 11.08%.

Insider Activity at McKesson

In related news, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other McKesson news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders sold a total of 4,080 shares of company stock valued at $2,160,489 over the last three months. 0.21% of the stock is owned by insiders.

Hedge Funds Weigh In On McKesson

A number of hedge funds and other institutional investors have recently bought and sold shares of MCK. Sachetta LLC acquired a new stake in McKesson in the fourth quarter worth approximately $27,000. LRI Investments LLC acquired a new stake in McKesson in the first quarter worth approximately $28,000. Register Financial Advisors LLC acquired a new stake in McKesson in the first quarter worth approximately $29,000. BKM Wealth Management LLC acquired a new stake in McKesson in the fourth quarter worth approximately $31,000. Finally, Richardson Financial Services Inc. bought a new position in shares of McKesson in the fourth quarter valued at $31,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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.