McKesson Corporation (NYSE:MCK) Receives Consensus Recommendation of “Moderate Buy” from Analysts
by Renee Jackson · The Cerbat GemShares of McKesson Corporation (NYSE:MCK – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $973.4375.
A number of research firms have recently issued reports on MCK. Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Wells Fargo & Company upped their target price on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. Barclays increased their target price on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Finally, Robert W. Baird set a $1,015.00 price target on McKesson in a research report on Thursday, August 6th.
View Our Latest Stock Report on McKesson
McKesson Price Performance
MCK stock opened at $879.28 on Friday. McKesson has a 1-year low of $687.68 and a 1-year high of $999.00. The business has a 50-day moving average price of $867.71 and a 200 day moving average price of $838.40. The company has a market capitalization of $102.52 billion, a P/E ratio of 23.53, a PEG ratio of 1.77 and a beta of 0.30.
McKesson (NYSE:MCK – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter last year, the firm posted $8.26 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts anticipate that McKesson will post 44.64 earnings per share for the current fiscal year.
McKesson Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s payout ratio is presently 10.06%.
Insiders Place Their Bets
In other news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of McKesson stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at $464,445.45. The trade was a 17.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 8,875 shares of company stock worth $7,083,441. 0.06% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On McKesson
Several institutional investors have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of McKesson by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after acquiring an additional 11 shares during the period. Investment Research Partners LLC raised its position in shares of McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock worth $1,332,000 after acquiring an additional 11 shares in the last quarter. Macroview Investment Management LLC lifted its stake in McKesson by 3.9% during the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after purchasing an additional 12 shares during the last quarter. Anchyra Partners LLC lifted its stake in McKesson by 1.0% during the first quarter. Anchyra Partners LLC now owns 1,174 shares of the company’s stock worth $1,016,000 after purchasing an additional 12 shares during the last quarter. Finally, SJS Investment Consulting Inc. boosted its holdings in McKesson by 7.5% in the first quarter. SJS Investment Consulting Inc. now owns 172 shares of the company’s stock valued at $149,000 after purchasing an additional 12 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.
About McKesson
McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.
The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.
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