McKesson Co. (MCK) Raised to B at TheStreet
McKesson Co. (NYSE:MCK) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b” rating in a research note issued on Thursday.
A number of other equities analysts have also recently commented on MCK. Vetr upgraded McKesson from a “buy” rating to a “strong-buy” rating and set a $175.65 target price for the company in a report on Wednesday, January 25th. Credit Suisse Group AG reiterated a “sell” rating on shares of McKesson in a research note on Friday, March 3rd. Citigroup Inc lifted their price objective on McKesson from $169.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, March 6th. Needham & Company LLC assumed coverage on McKesson in a research note on Tuesday, April 4th. They issued a “hold” rating for the company. Finally, Evercore ISI reiterated an “outperform” rating and issued a $166.00 price objective on shares of McKesson in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $169.60.
McKesson (NYSE:MCK) opened at 161.20 on Thursday. The company has a market capitalization of $34.17 billion, a P/E ratio of 7.09 and a beta of 1.06. McKesson has a one year low of $114.53 and a one year high of $199.43. The firm has a 50-day moving average of $144.02 and a 200-day moving average of $144.65.
McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 18th. The company reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.35. McKesson had a return on equity of 30.05% and a net margin of 0.97%. The company had revenue of $48.71 billion during the quarter, compared to analysts’ expectations of $49.48 billion. During the same period last year, the business posted $2.44 EPS. McKesson’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts anticipate that McKesson will post $12.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 5th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, June 1st. McKesson’s dividend payout ratio (DPR) is presently 13.25%.
In other news, Chairman John H. Hammergren sold 100,500 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $150.49, for a total transaction of $15,124,245.00. Following the sale, the chairman now owns 57,900 shares of the company’s stock, valued at approximately $8,713,371. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.15% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. HM Payson & Co. acquired a new stake in shares of McKesson during the first quarter valued at $450,000. Public Employees Retirement System of Ohio raised its stake in shares of McKesson by 1.4% in the first quarter. Public Employees Retirement System of Ohio now owns 142,290 shares of the company’s stock valued at $21,096,000 after buying an additional 1,923 shares during the period. Achmea Investment Management B.V. acquired a new stake in shares of McKesson during the first quarter valued at $2,786,000. Cambridge Trust Co. raised its stake in shares of McKesson by 4.5% in the first quarter. Cambridge Trust Co. now owns 10,251 shares of the company’s stock valued at $1,520,000 after buying an additional 438 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of McKesson by 39.7% in the first quarter. Bank of Nova Scotia now owns 50,699 shares of the company’s stock valued at $7,518,000 after buying an additional 14,407 shares during the period. 87.81% of the stock is currently owned by institutional investors and hedge funds.
McKesson Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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