McKesson Co. (NYSE:MCK) Receives $517.86 Average Price Target from Brokerages

McKesson Co. (NYSE:MCKGet Free Report) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $522.21.

A number of equities research analysts have recently commented on MCK shares. UBS Group upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen upped their price objective on shares of McKesson from $508.00 to $563.00 and gave the company an “outperform” rating in a research note on Monday, December 11th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Wells Fargo & Company started coverage on shares of McKesson in a research note on Thursday, December 14th. They issued an “equal weight” rating and a $502.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of McKesson from $495.00 to $514.00 and gave the company an “overweight” rating in a research note on Friday, November 17th.

Get Our Latest Stock Analysis on MCK

Insider Activity

In other news, CEO Brian S. Tyler sold 14,026 shares of McKesson stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $20,853,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 14,026 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $20,853,600. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of McKesson

Several hedge funds have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC bought a new stake in McKesson in the fourth quarter worth about $40,000. SageView Advisory Group LLC bought a new stake in McKesson in the fourth quarter worth about $710,000. Richardson Financial Services Inc. bought a new stake in McKesson in the fourth quarter worth about $31,000. Vima LLC bought a new stake in McKesson in the fourth quarter worth about $250,000. Finally, Syon Capital LLC raised its position in McKesson by 40.7% in the fourth quarter. Syon Capital LLC now owns 2,538 shares of the company’s stock worth $1,175,000 after acquiring an additional 734 shares during the period. Institutional investors own 82.69% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK opened at $527.41 on Friday. McKesson has a 52-week low of $331.75 and a 52-week high of $537.26. The firm has a 50 day moving average price of $499.68 and a two-hundred day moving average price of $464.48. The stock has a market cap of $69.31 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of 1.60 and a beta of 0.44.

McKesson (NYSE:MCKGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same period in the prior year, the company posted $6.90 EPS. The company’s revenue was up 14.8% on a year-over-year basis. Analysts predict that McKesson will post 27.61 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

About McKesson

(Get Free Report

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.

Further Reading

Analyst Recommendations for McKesson (NYSE:MCK)

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