Several other equities analysts have also commented on the stock. TheStreet upgraded shares of McKesson from a d rating to a c+ rating in a research report on Wednesday, February 2nd. UBS Group increased their price objective on shares of McKesson from $245.00 to $303.00 and gave the company a buy rating in a research report on Tuesday, February 8th. Morgan Stanley increased their price objective on shares of McKesson from $292.00 to $370.00 and gave the company an overweight rating in a research report on Tuesday, April 12th. Cowen increased their price objective on shares of McKesson from $325.00 to $361.00 in a research report on Monday, April 18th. Finally, Mizuho increased their price objective on shares of McKesson from $280.00 to $331.00 in a research report on Monday, May 9th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and an average price target of $320.08.
Shares of NYSE:MCK opened at $324.24 on Tuesday. The firm has a fifty day moving average price of $310.77 and a 200 day moving average price of $267.25. McKesson has a fifty-two week low of $184.43 and a fifty-two week high of $339.94. The firm has a market cap of $47.13 billion, a price-to-earnings ratio of 44.97, a P/E/G ratio of 1.51 and a beta of 0.67.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 1st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.58%. The ex-dividend date is Tuesday, May 31st. McKesson’s dividend payout ratio is presently 26.07%.
In related news, CEO Brian S. Tyler sold 8,678 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $331.45, for a total value of $2,876,323.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Nancy Flores sold 3,298 shares of the firm’s stock in a transaction dated Thursday, April 7th. The stock was sold at an average price of $311.09, for a total transaction of $1,025,974.82. Following the completion of the transaction, the executive vice president now directly owns 5,440 shares in the company, valued at approximately $1,692,329.60. The disclosure for this sale can be found here. Insiders sold a total of 28,290 shares of company stock worth $9,196,408 in the last ninety days. 0.28% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. increased its position in McKesson by 6.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 15,932 shares of the company’s stock valued at $3,960,000 after purchasing an additional 996 shares during the period. DekaBank Deutsche Girozentrale increased its position in McKesson by 1.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 220,816 shares of the company’s stock valued at $54,858,000 after purchasing an additional 4,111 shares during the period. Pinnacle Associates Ltd. increased its position in McKesson by 9.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 4,370 shares of the company’s stock valued at $1,086,000 after purchasing an additional 376 shares during the period. Waldron Private Wealth LLC purchased a new position in McKesson during the 4th quarter valued at about $224,000. Finally, Scotia Capital Inc. boosted its holdings in shares of McKesson by 10.2% in the 3rd quarter. Scotia Capital Inc. now owns 5,406 shares of the company’s stock valued at $1,078,000 after buying an additional 499 shares in the last quarter. 85.45% of the stock is currently owned by institutional investors and hedge funds.
McKesson Company Profile (Get Rating)
McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).
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