McKesson (NYSE:MCK) Sets New 12-Month High – Here’s What Happened

McKesson Corporation (NYSE:MCK)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $971.93 and last traded at $965.3830, with a volume of 48585 shares trading hands. The stock had previously closed at $963.24.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group boosted their price objective on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Zacks Research cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Mizuho upped their target price on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Robert W. Baird set a $968.00 price target on shares of McKesson in a research note on Wednesday, January 14th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $966.00 target price on shares of McKesson in a report on Thursday, January 29th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average price target of $943.50.

McKesson Trading Up 1.0%

The firm has a 50 day simple moving average of $862.22 and a two-hundred day simple moving average of $802.17. The company has a market capitalization of $119.17 billion, a PE ratio of 27.95, a P/E/G ratio of 1.54 and a beta of 0.40.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $9.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.19 by $0.15. The company had revenue of $106.16 billion for the quarter, compared to analysts’ expectations of $105.98 billion. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. McKesson’s revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company posted $8.03 EPS. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. Research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, March 2nd. McKesson’s dividend payout ratio is currently 9.43%.

Insider Activity at McKesson

In other news, Director Maria Martinez sold 349 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the transaction, the director directly owned 301 shares of the company’s stock, valued at $282,900.87. This represents a 53.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $955.00, for a total transaction of $313,240.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,143 shares of company stock valued at $1,046,070 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On McKesson

Several institutional investors and hedge funds have recently made changes to their positions in MCK. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after buying an additional 11 shares during the period. Investment Research Partners LLC lifted its holdings in shares of McKesson by 0.7% in the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock worth $1,332,000 after purchasing an additional 11 shares during the last quarter. IHT Wealth Management LLC boosted its position in McKesson by 0.9% during the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after purchasing an additional 11 shares during the period. Obsidian Personal Planning Solutions LLC increased its position in McKesson by 2.9% in the third quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock worth $346,000 after buying an additional 12 shares during the period. Finally, LRI Investments LLC lifted its stake in McKesson by 12.1% in the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock valued at $91,000 after buying an additional 12 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.