McKesson Co. (NYSE:MCK) Receives $590.47 Consensus Target Price from Analysts

McKesson Co. (NYSE:MCK) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $596.00.

Several analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Barclays raised their price objective on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Wells Fargo & Company raised their price objective on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 9th. UBS Group raised their target price on shares of McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Argus raised their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total value of $2,180,192.76. Following the transaction, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the sale, the chief executive officer now directly owns 86,092 shares in the company, valued at $50,012,564.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,567 shares of company stock valued at $16,691,841. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McKesson

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its holdings in shares of McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after buying an additional 46,659 shares during the last quarter. Morgan Stanley boosted its holdings in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Norges Bank purchased a new stake in McKesson in the fourth quarter valued at $1,024,140,000. Putnam Investments LLC boosted its holdings in McKesson by 3.2% in the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after purchasing an additional 62,242 shares during the last quarter. Finally, Swedbank AB purchased a new stake in McKesson in the first quarter valued at $669,326,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Down 0.5 %

Shares of NYSE:MCK opened at $586.81 on Friday. McKesson has a 12 month low of $395.30 and a 12 month high of $612.17. The company has a 50-day moving average price of $572.90 and a 200 day moving average price of $532.34. The company has a market cap of $76.25 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.37 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same period in the previous year, the business posted $7.19 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, equities analysts forecast that McKesson will post 31.54 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, June 3rd. McKesson’s dividend payout ratio is currently 11.08%.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.