McKesson (NYSE:MCK) Issues Quarterly Earnings Results

McKesson (NYSE:MCK) posted its quarterly earnings results on Wednesday. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57), Zacks reports. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%.

McKesson Price Performance

MCK stock traded down $14.34 during trading hours on Thursday, reaching $592.57. The stock had a trading volume of 729,023 shares, compared to its average volume of 715,891. The stock has a 50-day simple moving average of $589.61 and a 200 day simple moving average of $562.56. The stock has a market capitalization of $75.22 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 14.71%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MCK. Evercore ISI lifted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday. Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

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.