McKesson (NYSE:MCK) Reaches New 1-Year High – Here’s What Happened

McKesson Co. (NYSE:MCK) shares reached a new 52-week high on Monday . The company traded as high as $654.25 and last traded at $660.02, with a volume of 184888 shares trading hands. The stock had previously closed at $644.22.

Analyst Ratings Changes

A number of research firms have recently weighed in on MCK. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Bank of America dropped their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Trading Down 0.8 %

The business has a 50-day moving average price of $604.12 and a 200 day moving average price of $568.96. The company has a market cap of $81.91 billion, a price-to-earnings ratio of 29.92, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 in the last three months. 0.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On McKesson

A number of hedge funds have recently modified their holdings of the stock. Mattson Financial Services LLC acquired a new position in shares of McKesson in the fourth quarter worth $228,000. Siemens Fonds Invest GmbH increased its stake in shares of McKesson by 623.3% in the fourth quarter. Siemens Fonds Invest GmbH now owns 31,470 shares of the company’s stock worth $17,935,000 after acquiring an additional 27,119 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of McKesson in the fourth quarter worth $248,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of McKesson in the fourth quarter worth $55,948,000. Finally, Jefferies Financial Group Inc. increased its stake in shares of McKesson by 48.6% in the fourth quarter. Jefferies Financial Group Inc. now owns 12,626 shares of the company’s stock worth $7,196,000 after acquiring an additional 4,131 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

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.