McKesson Corp. (MCK) Raised to “Strong-Buy” at Vetr Inc.
Vetr upgraded shares of McKesson Corp. (NYSE:MCK) from a buy rating to a strong-buy rating in a research note issued to investors on Friday morning.
Other equities analysts have also issued research reports about the stock. Morgan Stanley reiterated a buy rating on shares of McKesson Corp. in a report on Tuesday, May 31st. Raymond James Financial Inc. lowered shares of McKesson Corp. from a strong-buy rating to an outperform rating in a report on Wednesday, June 1st. FBR & Co reiterated a buy rating on shares of McKesson Corp. in a report on Saturday, June 4th. Mizuho reiterated a neutral rating and issued a $174.00 price target (up previously from $164.00) on shares of McKesson Corp. in a report on Tuesday, June 7th. Finally, Bank of America Corp. reiterated a neutral rating and issued a $190.00 price target on shares of McKesson Corp. in a report on Tuesday, June 7th. Nine investment 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 stock. The company presently has a consensus rating of Buy and an average price target of $201.95.
McKesson Corp. (NYSE:MCK) opened at 164.80 on Friday. The company’s 50 day moving average is $185.97 and its 200-day moving average is $178.85. McKesson Corp. has a 52 week low of $148.29 and a 52 week high of $202.20. The firm has a market cap of $37.20 billion, a P/E ratio of 17.11 and a beta of 0.95.
McKesson Corp. (NYSE:MCK) last announced its earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.33 by $0.17. McKesson Corp. had a net margin of 1.15% and a return on equity of 31.62%. The firm had revenue of $49.73 billion for the quarter, compared to analyst estimates of $50.32 billion. During the same quarter last year, the business earned $3.14 earnings per share. McKesson Corp.’s revenue was up 4.6% compared to the same quarter last year. Equities analysts expect that McKesson Corp. will post $13.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend 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 news, CFO James A. Beer sold 5,500 shares of McKesson Corp. stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 12,412 shares of the company’s stock, valued at approximately $2,469,988. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A. Budd sold 2,309 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $179.70, for a total transaction of $414,927.30. Following the transaction, the director now directly owns 723 shares of the company’s stock, valued at $129,923.10. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. raised its position in McKesson Corp. by 11.9% in the second quarter. Macquarie Group Ltd. now owns 67,323 shares of the company’s stock worth $12,566,000 after buying an additional 7,172 shares during the last quarter. Carnick & Kubik Group LLC purchased a new position in McKesson Corp. during the second quarter worth about $453,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in McKesson Corp. during the second quarter worth about $1,696,000. Kentucky Retirement Systems purchased a new position in McKesson Corp. during the second quarter worth about $3,572,000. Finally, Northwestern Mutual Investment Management Company LLC raised its position in McKesson Corp. by 2,162.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 197,586 shares of the company’s stock worth $36,879,000 after buying an additional 188,854 shares during the last quarter. 84.77% of the stock is owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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