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

Shares of McKesson Corporation (NYSE:MCK) have been given an average rating of “Moderate Buy” by the seventeen brokerages that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $960.5333.

MCK has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. UBS Group increased their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Finally, Evercore reissued an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th.

Insider Buying and Selling

In other McKesson news, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 20,285 shares of company stock valued at $15,546,137. 0.06% of the stock is owned by insiders.

Institutional Trading of McKesson

Several hedge funds have recently modified their holdings of the company. Sapient Capital LLC increased its holdings in shares of McKesson by 13.5% during the first quarter. Sapient Capital LLC now owns 638 shares of the company’s stock worth $554,000 after buying an additional 76 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of McKesson by 3.0% during the first quarter. Parallel Advisors LLC now owns 2,878 shares of the company’s stock worth $2,491,000 after buying an additional 83 shares in the last quarter. First Nebraska Trust Co acquired a new stake in shares of McKesson during the first quarter worth approximately $723,000. Lavelle Capital LP acquired a new stake in shares of McKesson during the first quarter worth approximately $398,000. Finally, Alpine Woods Capital Investors LLC increased its holdings in shares of McKesson by 45.8% during the first quarter. Alpine Woods Capital Investors LLC now owns 856 shares of the company’s stock worth $741,000 after buying an additional 269 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 1.9%

Shares of NYSE MCK opened at $749.37 on Tuesday. The business has a fifty day simple moving average of $775.18 and a 200 day simple moving average of $840.27. The firm has a market capitalization of $87.74 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.26 and a beta of 0.31. McKesson has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.McKesson’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, research analysts anticipate that McKesson will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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 dividend of $0.82 per share. 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.