Investors Buy McKesson Corp. (MCK) on Weakness
Traders bought shares of McKesson Corp. (NYSE:MCK) on weakness during trading hours on Friday. $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 companies tracked, McKesson Corp. had the 45th highest net in-flow for the day. McKesson Corp. traded down ($0.29) for the day and closed at $182.98
A number of analysts have recently weighed in on the company. Bank of America Corp. restated a “neutral” rating and issued a $190.00 target price on shares of McKesson Corp. in a research note on Tuesday, June 7th. Deutsche Bank AG restated a “buy” rating on shares of McKesson Corp. in a research note on Monday, July 18th. Vetr upgraded McKesson Corp. from a “hold” rating to a “buy” rating and set a $188.01 target price for the company in a research note on Monday, June 20th. FBR & Co restated a “buy” rating on shares of McKesson Corp. in a research note on Wednesday, June 22nd. Finally, Mizuho raised their target price on McKesson Corp. from $174.00 to $197.00 and gave the company a “neutral” rating in a research note on Thursday, August 11th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. McKesson Corp. currently has an average rating of “Buy” and a consensus target price of $201.89.
The company has a 50 day moving average price of $192.91 and a 200-day moving average price of $176.99. The firm has a market cap of $41.30 billion and a P/E ratio of 19.00.
McKesson Corp. (NYSE:MCK) last posted its quarterly earnings results 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 last year, the firm posted $3.14 EPS. The business had revenue of $49.73 billion for the quarter, compared to analyst estimates of $50.32 billion. McKesson Corp.’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that McKesson Corp. will post $13.66 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be issued a $0.28 dividend. The ex-dividend date 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, Director Marie L/Ca Knowles sold 915 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $192.73, for a total value of $176,347.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James A. Beer sold 5,500 shares of the company’s stock in a transaction dated 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 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 disclosure for this sale can be found here.
A hedge fund recently raised its stake in McKesson Corp. stock. Schwab Charles Investment Management Inc. boosted its position in McKesson Corp. (NYSE:MCK) by 2.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 926,872 shares of the company’s stock after buying an additional 18,994 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.41% of McKesson Corp. worth $182,807,000 as of its most recent filing with the SEC.
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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