Shares of McKesson Corporation (NYSE:MCK) have been given a consensus rating of “Hold” by the twenty-one analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $174.81.
A number of research analysts have issued reports on MCK shares. Vetr upgraded McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $157.86 target price on the stock in a research report on Tuesday, April 18th. Evercore ISI restated an “outperform” rating and set a $166.00 price target on shares of McKesson Corporation in a report on Monday, April 17th. Barclays PLC restated an “overweight” rating and set a $174.00 price target on shares of McKesson Corporation in a report on Thursday, April 27th. J P Morgan Chase & Co upgraded McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price target on the stock in a report on Tuesday, May 23rd. Finally, Leerink Swann set a $140.00 price target on McKesson Corporation and gave the stock a “hold” rating in a report on Friday, May 19th.
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In related news, Chairman John H. Hammergren sold 38,619 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $163.76, for a total value of $6,324,247.44. Following the completion of the sale, the chairman now directly owns 19,309 shares of the company’s stock, valued at approximately $3,162,041.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman John H. Hammergren sold 19,316 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $162.31, for a total value of $3,135,179.96. Following the completion of the sale, the chairman now directly owns 96,644 shares of the company’s stock, valued at $15,686,287.64. The disclosure for this sale can be found here. Insiders sold a total of 159,648 shares of company stock valued at $24,773,475 over the last three months. 1.15% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MCK. Arizona State Retirement System increased its position in shares of McKesson Corporation by 0.5% in the third quarter. Arizona State Retirement System now owns 57,158 shares of the company’s stock worth $9,531,000 after buying an additional 300 shares during the period. Monashee Investment Management LLC acquired a new position in shares of McKesson Corporation during the third quarter worth about $3,335,000. Rock Springs Capital Management LP increased its position in shares of McKesson Corporation by 5.3% in the third quarter. Rock Springs Capital Management LP now owns 82,000 shares of the company’s stock worth $13,674,000 after buying an additional 4,100 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its position in shares of McKesson Corporation by 2.4% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 80,025 shares of the company’s stock worth $13,344,000 after buying an additional 1,842 shares during the period. Finally, Honkamp Krueger Financial Services Inc. ADV acquired a new position in shares of McKesson Corporation during the fourth quarter worth about $594,000. Hedge funds and other institutional investors own 89.33% of the company’s stock.
McKesson Corporation (NYSE MCK) traded up 1.20% on Monday, hitting $161.75. 1,754,602 shares of the stock traded hands. The stock has a 50-day moving average of $153.24 and a 200-day moving average of $146.90. McKesson Corporation has a 12-month low of $114.53 and a 12-month high of $199.43. The firm has a market cap of $34.11 billion, a price-to-earnings ratio of 7.12 and a beta of 1.15.
McKesson Corporation (NYSE:MCK) last released its earnings results on Thursday, May 18th. The company reported $3.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.04 by $0.35. McKesson Corporation had a return on equity of 29.99% and a net margin of 2.55%. The firm had revenue of $48.71 billion for the quarter, compared to analysts’ expectations of $49.48 billion. During the same quarter in the previous year, the business posted $2.44 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts forecast that McKesson Corporation will post $12.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, June 1st. McKesson Corporation’s payout ratio is currently 4.80%.
About McKesson Corporation
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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