McKesson Corporation (NYSE:MCK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of McKesson Corporation (NYSE:MCKGet Free Report) have received an average rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $968.8667.

A number of brokerages recently issued reports on MCK. Wells Fargo & Company dropped their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. UBS Group raised their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Leerink Partners restated an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th.

View Our Latest Research Report on McKesson

Insider Activity

In other news, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,760 shares of company stock valued at $5,123,773 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MCK. Brighton Jones LLC boosted its stake in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP bought a new position in McKesson during the 1st quarter worth approximately $233,000. Sivia Capital Partners LLC boosted its stake in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after acquiring an additional 300 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after acquiring an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in McKesson during the 2nd quarter worth approximately $166,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 2.3%

Shares of McKesson stock opened at $756.73 on Friday. The stock has a market capitalization of $90.96 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 1.22 and a beta of 0.31. The company has a 50-day simple moving average of $808.39 and a 200 day simple moving average of $849.47. McKesson has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCKGet Free Report) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts anticipate that McKesson will post 44.27 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

McKesson Company Profile

(Get Free Report)

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.

See Also

Analyst Recommendations for McKesson (NYSE:MCK)

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