McKesson Corporation (MCK) Given Consensus Recommendation of “Hold” by Brokerages
McKesson Corporation (NYSE:MCK) has received a consensus rating of “Hold” from the twenty-one brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $175.85.
MCK has been the topic of a number of recent research reports. BidaskClub downgraded McKesson Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Wednesday, July 12th. Robert W. Baird upgraded McKesson Corporation from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $175.00 to $178.00 in a research note on Tuesday, September 19th. TheStreet downgraded McKesson Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Finally, Needham & Company LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a research note on Friday, September 8th.
In related news, SVP Erin M. Lampert sold 900 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director M Christine Jacobs sold 1,083 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $145.43, for a total value of $157,500.69. The disclosure for this sale can be found here. Insiders have sold a total of 952,066 shares of company stock valued at $145,736,987 in the last three months. 1.20% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. McQueen Ball & Associates Inc. raised its holdings in McKesson Corporation by 3.7% in the 3rd quarter. McQueen Ball & Associates Inc. now owns 12,725 shares of the company’s stock valued at $1,955,000 after acquiring an additional 455 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in McKesson Corporation by 13.4% in the 3rd quarter. Eqis Capital Management Inc. now owns 7,347 shares of the company’s stock valued at $1,129,000 after acquiring an additional 868 shares in the last quarter. Perpetual Ltd raised its holdings in McKesson Corporation by 12.0% in the 2nd quarter. Perpetual Ltd now owns 69,900 shares of the company’s stock valued at $11,501,000 after acquiring an additional 7,500 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new position in McKesson Corporation in the 2nd quarter valued at approximately $408,000. Finally, Frontier Investment Mgmt Co. acquired a new position in McKesson Corporation in the 2nd quarter valued at approximately $3,434,000. 85.19% of the stock is owned by hedge funds and other institutional investors.
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McKesson Corporation (MCK) traded up 0.49% during trading on Thursday, hitting $150.67. The stock had a trading volume of 1,025,451 shares. The firm has a market cap of $31.68 billion, a price-to-earnings ratio of 6.84 and a beta of 1.17. The firm’s 50 day moving average is $151.76 and its 200 day moving average is $153.58. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $169.29.
McKesson Corporation (NYSE:MCK) last issued its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.81 by ($0.35). McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The business had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. During the same quarter in the prior year, the firm posted $3.50 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, analysts anticipate that McKesson Corporation will post $12.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 1st were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Wednesday, August 30th. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s payout ratio is currently 6.07%.
About McKesson Corporation
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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