Traders Sell McKesson Corp. (MCK) on Strength (MCK)
Traders sold shares of McKesson Corp. (NYSE:MCK) on strength during trading hours on Friday. $51.10 million flowed into the stock on the tick-up and $101.33 million flowed out of the stock on the tick-down, for a money net flow of $50.23 million out of the stock. Of all equities tracked, McKesson Corp. had the 0th highest net out-flow for the day. McKesson Corp. traded up $1.12 for the day and closed at $194.56
A number of research firms recently issued reports on MCK. Vetr downgraded McKesson Corp. from a “strong-buy” rating to a “buy” rating and set a $193.09 price objective for the company. in a report on Thursday, May 5th. FBR & Co reiterated a “buy” rating on shares of McKesson Corp. in a report on Saturday, June 4th. Morgan Stanley increased their price objective on McKesson Corp. from $199.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup Inc. increased their price objective on McKesson Corp. from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Zacks Investment Research upgraded McKesson Corp. from a “sell” rating to a “hold” rating in a report on Friday, May 6th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $201.56.
The company has a market cap of $43.91 billion and a PE ratio of 20.20. The company has a 50-day moving average price of $188.78 and a 200-day moving average price of $171.68.
McKesson Corp. (NYSE:MCK) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $3.50 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.17. During the same period in the prior year, the firm posted $3.14 earnings per share. The company had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $50.32 billion. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts forecast that McKesson Corp. will post $13.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Tuesday, August 30th.
In other news, CFO James A. Beer sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The stock was 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 owns 12,412 shares in the company, valued at approximately $2,469,988. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick Blake sold 3,162 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $179.33, for a total value of $567,041.46. Following the completion of the transaction, the executive vice president now owns 20,167 shares in the company, valued at approximately $3,616,548.11. The disclosure for this sale can be found here.
Several institutional investors have made changes to their positions in the company. Tredje AP fonden increased its position in shares of McKesson Corp. by 1.3% in the fourth quarter. Tredje AP fonden now owns 15,341 shares of the company’s stock worth $3,029,000 after buying an additional 204 shares during the last quarter. Twin Capital Management Inc. increased its position in McKesson Corp. by 9.6% in the fourth quarter. Twin Capital Management Inc. now owns 22,520 shares of the company’s stock valued at $4,442,000 after buying an additional 1,980 shares during the last quarter. Davidson & Garrard Inc. increased its position in McKesson Corp. by 3.7% in the fourth quarter. Davidson & Garrard Inc. now owns 32,454 shares of the company’s stock valued at $6,401,000 after buying an additional 1,165 shares during the last quarter. Legacy Capital Partners Inc. increased its position in McKesson Corp. by 1.7% in the fourth quarter. Legacy Capital Partners Inc. now owns 6,673 shares of the company’s stock valued at $1,317,000 after buying an additional 113 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in McKesson Corp. by 2.3% in the fourth quarter. Gulf International Bank UK Ltd now owns 68,235 shares of the company’s stock valued at $13,458,000 after buying an additional 1,550 shares during the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.