Traders Buy Shares of McKesson Corp. (MCK) on Weakness
Traders bought shares of McKesson Corp. (NYSE:MCK) on weakness during trading 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 equities 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 equities research analysts have commented on the company. FBR & Co reissued a “buy” rating on shares of McKesson Corp. in a report on Saturday, June 4th. Raymond James Financial Inc. cut McKesson Corp. from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, June 1st. Morgan Stanley reissued a “buy” rating on shares of McKesson Corp. in a report on Tuesday, May 31st. Citigroup Inc. raised their price target on McKesson Corp. from $215.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Finally, Bank of America Corp. reissued a “hold” rating on shares of McKesson Corp. in a report on Thursday, June 30th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $201.89.
The firm’s 50 day moving average is $192.91 and its 200-day moving average is $176.99. The company has a market capitalization of $41.30 billion and a PE ratio of 19.00.
McKesson Corp. (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share for the quarter, topping the consensus estimate of $3.33 by $0.17. The company had revenue of $49.73 billion for the quarter, compared to analyst estimates of $50.32 billion. During the same quarter last year, the company earned $3.14 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts expect that McKesson Corp. will post $13.66 EPS 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 dividend of $0.28 per share. The ex-dividend date is Tuesday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 0.61%.
In related news, Director M Christine Jacobs sold 915 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $193.78, for a total transaction of $177,308.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $1,094,500.00. Following the transaction, the chief financial officer now owns 12,412 shares of the company’s stock, valued at approximately $2,469,988. 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.
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.