McKesson Co. (NYSE:MCK – Get Free Report) shot up 0.5% during mid-day trading on Monday . The stock traded as high as $563.86 and last traded at $560.73. 512,300 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 709,698 shares. The stock had previously closed at $558.03.
Analyst Upgrades and Downgrades
Several research analysts recently commented on MCK shares. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. TD Cowen lifted their price target on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Argus raised their target price on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. SVB Leerink began coverage on McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $571.47.
McKesson Price Performance
The company has a 50 day simple moving average of $538.64 and a 200-day simple moving average of $503.18. The firm has a market cap of $72.89 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 1.31 and a beta of 0.45.
McKesson (NYSE:MCK – Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company posted $7.19 EPS. On average, sell-side analysts predict that McKesson Co. will post 31.57 EPS for the current fiscal year.
McKesson Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.44%. McKesson’s payout ratio is 11.08%.
Insider Activity at McKesson
In other McKesson news, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Insiders sold 4,080 shares of company stock worth $2,160,489 in the last three months. 0.21% of the stock is owned by insiders.
Hedge Funds Weigh In On McKesson
A number of institutional investors have recently bought and sold shares of MCK. First Western Trust Bank lifted its position in shares of McKesson by 2.0% in the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after buying an additional 18 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of McKesson by 1.7% during the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock worth $608,000 after acquiring an additional 19 shares in the last quarter. KCM Investment Advisors LLC boosted its position in shares of McKesson by 1.4% during the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock valued at $727,000 after acquiring an additional 19 shares during the last quarter. TCI Wealth Advisors Inc. grew its holdings in shares of McKesson by 1.3% in the first quarter. TCI Wealth Advisors Inc. now owns 1,531 shares of the company’s stock valued at $822,000 after purchasing an additional 19 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC increased its position in McKesson by 1.4% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after purchasing an additional 21 shares during the last quarter. 85.07% of the stock is owned by institutional investors.
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.