Traders Buy McKesson Corp. (MCK) on Weakness
Traders purchased shares of McKesson Corp. (NYSE:MCK) on weakness during trading hours on Monday. $38.55 million flowed into the stock on the tick-up and $25.04 million flowed out of the stock on the tick-down, for a money net flow of $13.51 million into the stock. Of all stocks tracked, McKesson Corp. had the 15th highest net in-flow for the day. McKesson Corp. traded down ($0.29) for the day and closed at $182.98
A number of brokerages have recently issued reports on MCK. Deutsche Bank AG reaffirmed a “buy” rating on shares of McKesson Corp. in a research report on Monday, July 18th. Citigroup Inc. upped their price target on McKesson Corp. from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Morgan Stanley upped their price target on McKesson Corp. from $199.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, July 28th. Mizuho upped their target price on McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a research report on Thursday, August 11th. Finally, JPMorgan Chase & Co. upped their target price on McKesson Corp. from $210.00 to $221.00 and gave the company an “overweight” rating in a research report on Tuesday, August 9th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. McKesson Corp. has an average rating of “Buy” and an average price target of $201.89.
The company has a market cap of $41.30 billion and a PE ratio of 19.00. The firm’s 50-day moving average price is $192.91 and its 200 day moving average price is $176.99.
McKesson Corp. (NYSE:MCK) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. During the same period last year, the firm earned $3.14 earnings per share. The company earned $49.73 billion during the quarter, compared to analysts’ expectations of $50.32 billion. McKesson Corp.’s revenue was up 4.6% on a year-over-year basis. On average, equities research analysts anticipate that McKesson Corp. will post $13.66 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 1st will be given a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%.
In other McKesson Corp. news, CFO James A. Beer sold 5,500 shares of McKesson Corp. stock in a transaction on Thursday, July 14th. The shares were sold at an average price of $199.00, for a total value of $1,094,500.00. Following the transaction, the chief financial officer now directly owns 12,412 shares in the company, valued at $2,469,988. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director M Christine Jacobs sold 915 shares of McKesson Corp. stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $193.78, for a total transaction of $177,308.70. The disclosure for this sale can be found here.
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.
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