Royal Bank Of Canada reissued their sector perform rating on shares of McKesson (NYSE:MCK – Free Report) in a research note released on Monday,Benzinga reports. Royal Bank Of Canada currently has a $845.00 price objective on the stock.
MCK has been the topic of a number of other research reports. UBS Group increased their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Citigroup upped their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Barclays increased their price target on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Evercore reissued an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price objective on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $973.44.
Get Our Latest Analysis on MCK
McKesson Trading Down 1.3%
McKesson (NYSE:MCK – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the prior year, the business posted $8.26 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, sell-side analysts forecast that McKesson will post 44.65 earnings per share for the current fiscal year.
McKesson Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.94 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is currently 10.06%.
Insider Transactions at McKesson
In other McKesson news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 8,875 shares of company stock worth $7,083,441. Insiders own 0.06% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Van Hulzen Asset Management LLC lifted its stake in shares of McKesson by 8.3% in the second quarter. Van Hulzen Asset Management LLC now owns 4,803 shares of the company’s stock valued at $3,629,000 after buying an additional 369 shares during the period. MCF Advisors LLC grew its position in McKesson by 19.7% during the second quarter. MCF Advisors LLC now owns 1,258 shares of the company’s stock worth $951,000 after buying an additional 207 shares in the last quarter. Scholtz & Company LLC bought a new position in McKesson during the second quarter valued at about $4,891,000. National Pension Service raised its holdings in McKesson by 2.7% in the 2nd quarter. National Pension Service now owns 407,092 shares of the company’s stock valued at $307,599,000 after acquiring an additional 10,878 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in McKesson in the 2nd quarter valued at approximately $423,000. Institutional investors and hedge funds own 85.07% of the company’s stock.
McKesson Company Profile
McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.
The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.
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