McKesson (NYSE:MCK) Issues Q2 Earnings Guidance

McKesson (NYSE:MCK) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $6.70-$7.00 for the period, compared to the consensus earnings per share estimate of $7.39. McKesson also updated its FY25 guidance to $31.75-$32.55 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MCK shares. Evercore ISI decreased their target price on McKesson from $660.00 to $630.00 and set an outperform rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $547.00 to $545.00 and set a buy rating for the company in a report on Thursday, May 9th. Bank of America upped their price target on shares of McKesson from $590.00 to $670.00 and gave the company a buy rating in a report on Tuesday, June 25th. Wells Fargo & Company boosted their price objective on McKesson from $502.00 to $551.00 and gave the stock an equal weight rating in a research report on Thursday, May 9th. Finally, UBS Group raised their target price on McKesson from $620.00 to $630.00 and gave the company a buy rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $624.93.

McKesson Trading Down 9.8 %

Shares of MCK traded down $56.02 during mid-day trading on Thursday, reaching $515.26. The company’s stock had a trading volume of 1,468,794 shares, compared to its average volume of 745,258. The business has a 50-day simple moving average of $577.92 and a two-hundred day simple moving average of $557.63. McKesson has a 1-year low of $405.50 and a 1-year high of $637.51. The stock has a market cap of $66.95 billion, a P/E ratio of 23.54, a PEG ratio of 1.29 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter last year, the business posted $7.27 EPS. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts anticipate that McKesson will post 32.14 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.55%. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Insider Transactions at McKesson

In related news, Director Maria Martinez sold 483 shares of McKesson stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total value of $282,980.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Leann B. Smith sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Maria Martinez sold 483 shares of McKesson stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The disclosure for this sale can be found here. Insiders sold a total of 8,589 shares of company stock valued at $5,163,981 over the last ninety days. 0.11% of the stock is currently owned by insiders.

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.