McKesson Sets New 12-Month High Following Analyst Upgrade (MCK)
McKesson (NYSE:MCK) shares reached a new 52-week high during trading on Monday after Leerink Swann raised their price target on the stock from $205.00 to $220.00, American Banking & Market News reports. The stock traded as high as $196.44 and last traded at $192.39, with a volume of 691,797 shares changing hands. The stock had previously closed at $195.43.
Several other analysts have also recently commented on the stock. Analysts at Bank of America upgraded shares of McKesson from a “neutral” rating to a “buy” rating in a research note on Friday. They now have a $215.00 price target on the stock, up previously from $172.00. Separately, analysts at Mizuho raised their price target on shares of McKesson from $205.00 to $214.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of McKesson from $200.00 to $210.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $209.06.
The stock’s 50-day moving average is $188.5 and its 200-day moving average is $179.1. The company has a market cap of $44.585 billion and a P/E ratio of 36.73.
McKesson (NYSE:MCK) last released its earnings data on Thursday, July 31st. The company reported $2.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.36 by $0.13. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $40.65 billion. During the same quarter last year, the company posted $2.07 earnings per share. McKesson’s revenue was up 36.7% compared to the same quarter last year. Analysts expect that McKesson will post $10.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Thursday, August 28th.
McKesson Corporation delivers pharmaceuticals, medical supplies and healthcare information technologies.
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