McKesson Corporation (NYSE:MCK) Given Average Rating of “Moderate Buy” by Analysts

Shares of McKesson Corporation (NYSE:MCK) have been assigned a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $892.8571.

A number of research analysts have issued reports on the company. Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Robert W. Baird increased their price target on shares of McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Mizuho raised their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Wells Fargo & Company boosted their target price on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Finally, Morgan Stanley increased their target price on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McKesson

Large investors have recently added to or reduced their stakes in the company. Obsidian Personal Planning Solutions LLC boosted its holdings in McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock valued at $346,000 after purchasing an additional 12 shares during the period. IAM Advisory LLC raised its position in shares of McKesson by 0.3% in the third quarter. IAM Advisory LLC now owns 3,908 shares of the company’s stock worth $3,019,000 after buying an additional 13 shares in the last quarter. PDS Planning Inc boosted its stake in McKesson by 1.1% during the third quarter. PDS Planning Inc now owns 1,209 shares of the company’s stock valued at $934,000 after buying an additional 13 shares during the period. Berkshire Asset Management LLC PA grew its position in McKesson by 4.6% during the third quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company’s stock worth $227,000 after buying an additional 13 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in McKesson by 1.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after buying an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $823.96 on Tuesday. The company has a market capitalization of $101.70 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.35 and a beta of 0.41. McKesson has a 52-week low of $570.51 and a 52-week high of $895.58. The company has a 50-day simple moving average of $833.92 and a two-hundred day simple moving average of $760.18.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.07 EPS. On average, sell-side analysts forecast that McKesson will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, December 1st. McKesson’s dividend payout ratio is 10.21%.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.