Analysts Set McKesson Co. (NYSE:MCK) PT at $224.13

Shares of McKesson Co. (NYSE:MCK) have been assigned an average recommendation of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $224.13.

Several equities analysts recently issued reports on MCK shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of McKesson from $237.00 to $261.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Credit Suisse Group upped their price objective on shares of McKesson from $222.00 to $224.00 and gave the company a “neutral” rating in a report on Monday, August 9th.

In related news, CEO Brian S. Tyler sold 1,467 shares of the company’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $203.84, for a total value of $299,033.28. Following the sale, the chief executive officer now owns 26,106 shares in the company, valued at approximately $5,321,447.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lori A. Schechter sold 14,419 shares of the company’s stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $203.03, for a total transaction of $2,927,489.57. Following the completion of the sale, the executive vice president now owns 14,419 shares in the company, valued at approximately $2,927,489.57. The disclosure for this sale can be found here. Insiders have sold 37,971 shares of company stock worth $7,726,342 in the last quarter. Company insiders own 0.28% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. BDO Wealth Advisors LLC grew its position in shares of McKesson by 2.4% during the 2nd quarter. BDO Wealth Advisors LLC now owns 9,121 shares of the company’s stock valued at $1,744,000 after acquiring an additional 217 shares during the period. Veracity Capital LLC grew its position in shares of McKesson by 9.9% during the 2nd quarter. Veracity Capital LLC now owns 2,874 shares of the company’s stock valued at $550,000 after acquiring an additional 259 shares during the period. Morgan Stanley grew its position in shares of McKesson by 14.0% during the 2nd quarter. Morgan Stanley now owns 1,054,067 shares of the company’s stock valued at $201,580,000 after acquiring an additional 129,753 shares during the period. Lake Street Advisors Group LLC grew its position in shares of McKesson by 11.1% during the 2nd quarter. Lake Street Advisors Group LLC now owns 1,397 shares of the company’s stock valued at $277,000 after acquiring an additional 140 shares during the period. Finally, Advisory Resource Group bought a new position in shares of McKesson during the 2nd quarter valued at approximately $481,000. 86.16% of the stock is owned by institutional investors and hedge funds.

MCK stock traded down $0.79 during midday trading on Tuesday, hitting $201.10. The stock had a trading volume of 720,717 shares, compared to its average volume of 1,075,876. The firm has a market cap of $31.11 billion, a P/E ratio of -7.11, a price-to-earnings-growth ratio of 1.33 and a beta of 0.88. The company has a current ratio of 0.99, a quick ratio of 0.53 and a debt-to-equity ratio of 82.70. McKesson has a 1-year low of $141.32 and a 1-year high of $210.00. The business has a fifty day moving average price of $200.93 and a two-hundred day moving average price of $195.01.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 4th. The company reported $5.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.09 by $1.47. The business had revenue of $62.67 billion for the quarter, compared to analyst estimates of $60.16 billion. McKesson had a negative net margin of 1.83% and a positive return on equity of 216.39%. McKesson’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.77 earnings per share. On average, equities analysts anticipate that McKesson will post 20.27 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 1st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $1.88 annualized dividend and a dividend yield of 0.93%. This is a positive change from McKesson’s previous quarterly dividend of $0.42. McKesson’s dividend payout ratio is currently 10.92%.

McKesson Company Profile

McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions (“RxTS“).

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Analyst Recommendations for McKesson (NYSE:MCK)

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