McKesson (NYSE:MCK) Upgraded to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of McKesson (NYSE:MCK) from a buy rating to a strong-buy rating in a research note released on Saturday.

A number of other analysts have also commented on MCK. Morgan Stanley increased their price objective on McKesson from $522.00 to $548.00 and gave the company an overweight rating in a research note on Monday, April 15th. UBS Group raised their target price on McKesson from $575.00 to $620.00 and gave the company a buy rating in a report on Wednesday, March 6th. Citigroup lifted their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a buy rating in a research note on Tuesday, April 30th. Mizuho increased their target price on McKesson from $450.00 to $505.00 and gave the company a neutral rating in a research note on Friday, February 9th. Finally, SVB Leerink started coverage on McKesson in a report on Monday, February 26th. They issued an outperform rating and a $600.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $536.71.

McKesson Stock Performance

NYSE MCK traded down $1.41 during trading hours on Friday, hitting $528.86. The company had a trading volume of 866,981 shares, compared to its average volume of 626,262. The company has a market cap of $69.50 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. McKesson has a 1-year low of $352.34 and a 1-year high of $544.81. The business has a 50 day moving average of $530.38 and a 200-day moving average of $492.08.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $6.90 EPS. Sell-side analysts expect that McKesson will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 11.24%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McKesson

Large investors have recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in McKesson in the 3rd quarter valued at approximately $26,000. Sachetta LLC acquired a new stake in McKesson in the 4th quarter valued at $27,000. Register Financial Advisors LLC acquired a new position in shares of McKesson during the 1st quarter worth about $29,000. BKM Wealth Management LLC acquired a new stake in shares of McKesson in the fourth quarter valued at about $31,000. Finally, Richardson Financial Services Inc. acquired a new position in McKesson during the fourth quarter valued at approximately $31,000. Institutional investors own 85.07% of the company’s stock.

McKesson Company Profile

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.