Robert W. Baird upgraded shares of McKesson Corporation (NYSE:MCK) from a neutral rating to an outperform rating in a report issued on Tuesday morning, MarketBeat Ratings reports. Robert W. Baird currently has $178.00 target price on the stock, up from their previous target price of $175.00.
Other equities analysts have also issued research reports about the stock. UBS AG reiterated a neutral rating and set a $166.00 price objective (up previously from $156.00) on shares of McKesson Corporation in a report on Monday, June 26th. Barclays PLC set a $187.00 target price on shares of McKesson Corporation and gave the stock a buy rating in a report on Sunday, June 4th. TheStreet upgraded shares of McKesson Corporation from a c+ rating to a b rating in a report on Thursday, May 25th. Morgan Stanley upped their target price on shares of McKesson Corporation from $165.00 to $179.00 and gave the stock an overweight rating in a report on Thursday, May 25th. Finally, Vetr upgraded shares of McKesson Corporation from a hold rating to a buy rating and set a $174.15 target price on the stock in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $171.53.
Shares of McKesson Corporation (MCK) opened at 154.01 on Tuesday. The firm has a 50 day moving average price of $151.41 and a 200 day moving average price of $153.02. The firm has a market cap of $32.38 billion, a P/E ratio of 6.99 and a beta of 1.16. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $169.29.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the consensus estimate of $2.81 by ($0.35). McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The company had revenue of $51.05 billion for the quarter, compared to analyst estimates of $51.22 billion. During the same quarter in the prior year, the company posted $3.50 EPS. McKesson Corporation’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts anticipate that McKesson Corporation will post $12.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a $0.34 dividend. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 annualized dividend and a yield of 0.88%. McKesson Corporation’s dividend payout ratio (DPR) is 6.07%.
In other news, CEO John H. Hammergren sold 125,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $150.18, for a total transaction of $18,772,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director M Christine Jacobs sold 1,083 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $145.43, for a total transaction of $157,500.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 228,066 shares of company stock valued at $34,599,127. Company insiders own 1.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. MPS Loria Financial Planners LLC bought a new position in shares of McKesson Corporation during the 2nd quarter valued at approximately $408,000. Frontier Investment Mgmt Co. bought a new position in shares of McKesson Corporation during the 2nd quarter valued at approximately $3,434,000. Intl Fcstone Inc. bought a new position in shares of McKesson Corporation during the 2nd quarter valued at approximately $379,000. Gs Investments Inc. bought a new position in shares of McKesson Corporation during the 2nd quarter valued at approximately $1,679,000. Finally, Achmea Investment Management B.V. grew its position in shares of McKesson Corporation by 25.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 23,564 shares of the company’s stock valued at $3,875,000 after acquiring an additional 4,774 shares during the period. 85.16% of the stock is owned by hedge funds and other institutional investors.
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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