McKesson (NYSE:MCK) Receives “Neutral” Rating from Robert W. Baird

Robert W. Baird restated their neutral rating on shares of McKesson (NYSE:MCK) in a research report released on Tuesday morning, Marketbeat Ratings reports. They currently have a $531.00 target price on the stock, down from their previous target price of $603.00.

A number of other equities analysts also recently weighed in on the company. Mizuho upped their target price on McKesson from $540.00 to $570.00 and gave the company a neutral rating in a report on Thursday, August 8th. Argus upped their target price on McKesson from $570.00 to $670.00 and gave the company a buy rating in a report on Monday, June 24th. Leerink Partners dropped their target price on McKesson from $670.00 to $665.00 and set an outperform rating on the stock in a report on Thursday, September 5th. Citigroup dropped their target price on McKesson from $670.00 to $630.00 and set a buy rating on the stock in a report on Tuesday, September 10th. Finally, Bank of America upped their target price on McKesson from $590.00 to $670.00 and gave the company a buy rating in a report on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $613.36.

McKesson Trading Up 1.9 %

NYSE MCK opened at $488.35 on Tuesday. The stock’s 50-day moving average price is $552.67 and its two-hundred day moving average price is $555.67. The company has a market cap of $63.45 billion, a PE ratio of 21.82, a PEG ratio of 1.18 and a beta of 0.44. McKesson has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.27 EPS. Research analysts forecast that McKesson will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares in the company, valued at $50,012,564.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 11,259 shares of company stock worth $6,635,492 over the last 90 days. Insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Distillate Capital Partners LLC grew its holdings in McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after purchasing an additional 35,712 shares during the last quarter. Wealthspire Advisors LLC grew its stake in shares of McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the last quarter. Councilmark Asset Management LLC acquired a new stake in shares of McKesson in the first quarter worth $5,160,000. Vaughan David Investments LLC IL acquired a new stake in shares of McKesson in the second quarter worth $238,000. Finally, Treasurer of the State of North Carolina grew its stake in shares of McKesson by 6.5% in the fourth quarter. Treasurer of the State of North Carolina now owns 65,266 shares of the company’s stock worth $30,217,000 after acquiring an additional 3,982 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.