McKesson Corporation (NYSE:MCK) Receives Average Rating of “Moderate Buy” from Analysts

McKesson Corporation (NYSE:MCK) has received an average rating of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $968.8667.

MCK has been the subject of several recent research reports. TD Cowen boosted their price target on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a report on Thursday, February 5th. William Blair began coverage on shares of McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Raymond James Financial set a $970.00 price target on shares of McKesson in a report on Thursday, March 5th. Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Finally, Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the sale, the executive vice president directly owned 3,090 shares of the company’s stock, valued at $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 6,760 shares of company stock worth $5,123,773. Company insiders own 0.08% of the company’s stock.

Institutional Trading of McKesson

Several large investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in shares of McKesson by 3.0% during the 1st quarter. Parallel Advisors LLC now owns 2,878 shares of the company’s stock worth $2,491,000 after buying an additional 83 shares during the period. First Nebraska Trust Co bought a new stake in shares of McKesson during the 1st quarter worth $723,000. Lavelle Capital LP bought a new stake in shares of McKesson during the 1st quarter worth $398,000. Alpine Woods Capital Investors LLC boosted its holdings in shares of McKesson by 45.8% during the 1st quarter. Alpine Woods Capital Investors LLC now owns 856 shares of the company’s stock worth $741,000 after buying an additional 269 shares during the period. Finally, Allen Capital Group LLC boosted its holdings in McKesson by 17.7% in the 1st quarter. Allen Capital Group LLC now owns 333 shares of the company’s stock valued at $288,000 after purchasing an additional 50 shares during the period. 85.07% of the stock is owned by institutional investors.

McKesson Trading Up 2.3%

Shares of NYSE:MCK opened at $756.73 on Friday. The company has a 50 day moving average of $808.39 and a 200-day moving average of $849.47. The firm has a market cap of $90.96 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.22 and a beta of 0.31. McKesson has a twelve month low of $637.00 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the business posted $10.12 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts forecast that McKesson will post 44.27 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio is currently 8.53%.

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.