Traders Buy Shares of McKesson (MCK) on Weakness
Investors bought shares of McKesson Co. (NYSE:MCK) on weakness during trading hours on Friday. $104.75 million flowed into the stock on the tick-up and $75.13 million flowed out of the stock on the tick-down, for a money net flow of $29.62 million into the stock. Of all stocks tracked, McKesson had the 18th highest net in-flow for the day. McKesson traded down ($1.30) for the day and closed at $148.93
A number of research analysts recently weighed in on MCK shares. Needham & Company LLC restated a “buy” rating and set a $173.00 target price (down previously from $178.00) on shares of McKesson in a research note on Wednesday, November 1st. ValuEngine cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Jefferies Group set a $165.00 target price on shares of McKesson and gave the company a “hold” rating in a research note on Wednesday, October 18th. Evercore ISI started coverage on shares of McKesson in a research note on Thursday, January 4th. They set an “outperform” rating and a $179.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $177.00 target price on the stock in a research note on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. McKesson currently has a consensus rating of “Hold” and a consensus target price of $178.97.
The stock has a market cap of $30,730.07, a P/E ratio of 11.88, a P/E/G ratio of 1.35 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 0.61.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Thursday, March 1st will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.91%. The ex-dividend date is Wednesday, February 28th. McKesson’s payout ratio is currently 6.03%.
In other news, Chairman John H. Hammergren sold 65,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $160.00, for a total value of $10,400,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of MCK. Stifel Financial Corp increased its holdings in shares of McKesson by 2.9% in the 2nd quarter. Stifel Financial Corp now owns 16,463 shares of the company’s stock worth $2,697,000 after buying an additional 460 shares during the last quarter. Macquarie Group Ltd. increased its holdings in shares of McKesson by 15.8% in the 2nd quarter. Macquarie Group Ltd. now owns 54,349 shares of the company’s stock worth $8,943,000 after buying an additional 7,400 shares during the last quarter. Shelton Capital Management bought a new stake in shares of McKesson in the 2nd quarter worth about $287,000. Janus Henderson Group PLC increased its holdings in shares of McKesson by 13.9% in the 2nd quarter. Janus Henderson Group PLC now owns 146,691 shares of the company’s stock worth $24,139,000 after buying an additional 17,899 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of McKesson by 17.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 24,107 shares of the company’s stock worth $3,967,000 after buying an additional 3,589 shares during the last quarter. Hedge funds and other institutional investors own 88.03% of the company’s stock.
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McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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