McKesson Corp. (MCK) Given “Hold” Rating at Argus
Other analysts have also issued research reports about the company. Morgan Stanley restated a buy rating on shares of McKesson Corp. in a report on Tuesday, May 31st. Vetr lowered McKesson Corp. from a strong-buy rating to a buy rating and set a $191.16 target price for the company. in a report on Monday, May 23rd. FBR & Co restated a buy rating on shares of McKesson Corp. in a report on Saturday, June 4th. Robert W. Baird restated a buy rating and issued a $220.00 target price on shares of McKesson Corp. in a report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. restated a buy rating on shares of McKesson Corp. in a report on Thursday, June 30th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. McKesson Corp. has a consensus rating of Buy and a consensus price target of $201.95.
Shares of McKesson Corp. (NYSE:MCK) opened at 165.00 on Monday. The stock has a 50 day moving average price of $186.75 and a 200 day moving average price of $178.83. The stock has a market cap of $37.24 billion, a P/E ratio of 17.13 and a beta of 0.95. McKesson Corp. has a 12 month low of $148.29 and a 12 month high of $202.20.
McKesson Corp. (NYSE:MCK) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.17. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The company earned $49.73 billion during the quarter, compared to the consensus estimate of $50.32 billion. During the same quarter in the prior year, the firm earned $3.14 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Equities analysts anticipate that McKesson Corp. will post $13.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 1st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, August 30th. McKesson Corp.’s dividend payout ratio (DPR) is presently 11.64%.
In other McKesson Corp. news, Director Marie L/Ca Knowles sold 915 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $192.73, for a total transaction of $176,347.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman John H. Hammergren sold 100,500 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $180.77, for a total transaction of $18,167,385.00. Following the transaction, the chairman now owns 100,500 shares of the company’s stock, valued at approximately $18,167,385. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantitative Systematic Strategies LLC boosted its position in shares of McKesson Corp. by 437.7% in the first quarter. Quantitative Systematic Strategies LLC now owns 8,281 shares of the company’s stock worth $1,306,000 after buying an additional 6,741 shares in the last quarter. OLD National Bancorp IN boosted its position in shares of McKesson Corp. by 4.0% in the first quarter. OLD National Bancorp IN now owns 54,884 shares of the company’s stock worth $8,631,000 after buying an additional 2,122 shares in the last quarter. Cornerstone Investment Partners LLC acquired a new position in shares of McKesson Corp. during the first quarter worth approximately $2,508,000. FirstMerit Bank N A Trustee boosted its position in shares of McKesson Corp. by 7.0% in the first quarter. FirstMerit Bank N A Trustee now owns 15,722 shares of the company’s stock worth $2,472,000 after buying an additional 1,027 shares in the last quarter. Finally, Oliver Luxxe Assets LLC boosted its position in shares of McKesson Corp. by 4.6% in the first quarter. Oliver Luxxe Assets LLC now owns 1,963 shares of the company’s stock worth $309,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 84.80% of the company’s stock.
McKesson Corp. Company Profile
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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