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

McKesson Co. (NYSE:MCK) has earned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $650.14.

A number of equities research analysts have commented on the company. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On McKesson

A number of hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after purchasing an additional 734,849 shares in the last quarter. FMR LLC increased its holdings in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after buying an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after acquiring an additional 425,875 shares during the period. Janus Henderson Group PLC boosted its stake in shares of McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after acquiring an additional 321,119 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 0.1 %

Shares of NYSE MCK opened at $578.43 on Friday. The stock has a market cap of $73.43 billion, a PE ratio of 29.95, a P/E/G ratio of 1.25 and a beta of 0.49. McKesson has a 12-month low of $454.18 and a 12-month high of $637.51. The company has a 50-day moving average of $576.82 and a 200 day moving average of $562.91.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.23 EPS. On average, sell-side analysts forecast that McKesson will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. McKesson’s payout ratio is 14.71%.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.