McKesson Corp. (NYSE:MCK) SVP Erin M. Lampert sold 1,739 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $165.94, for a total value of $288,569.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of McKesson Corp. (NYSE:MCK) opened at 165.82 on Monday. The firm has a 50-day moving average price of $175.12 and a 200-day moving average price of $179.16. The stock has a market capitalization of $37.43 billion, a P/E ratio of 17.22 and a beta of 0.93. McKesson Corp. has a 52-week low of $148.29 and a 52-week high of $202.20.
McKesson Corp. (NYSE:MCK) last posted its earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.33 by $0.17. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The firm had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $50.32 billion. During the same quarter in the prior year, the business earned $3.14 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, analysts predict that McKesson Corp. will post $13.63 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. McKesson Corp.’s dividend payout ratio (DPR) is 11.64%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Seven Eight Capital LLC purchased a new position in McKesson Corp. during the first quarter worth $110,000. Kelman Lazarov Inc. purchased a new position in McKesson Corp. during the second quarter worth $115,000. Baker Ellis Asset Management LLC increased its position in McKesson Corp. by 15.7% in the first quarter. Baker Ellis Asset Management LLC now owns 735 shares of the company’s stock worth $116,000 after buying an additional 100 shares during the period. Welch Group LLC purchased a new position in McKesson Corp. during the second quarter worth $126,000. Finally, Winslow Evans & Crocker Inc. increased its position in McKesson Corp. by 14.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 816 shares of the company’s stock worth $152,000 after buying an additional 101 shares during the period. Hedge funds and other institutional investors own 84.77% of the company’s stock.
Several equities research analysts recently commented on MCK shares. Zacks Investment Research lowered McKesson Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Vetr upgraded McKesson Corp. from a “hold” rating to a “buy” rating and set a $188.01 target price on the stock in a research report on Monday, June 20th. Goldman Sachs Group Inc. lowered McKesson Corp. from a “buy” rating to a “neutral” rating and cut their target price for the company from $210.00 to $189.00 in a research report on Friday, September 16th. Mizuho cut their target price on McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating on the stock in a research report on Monday, September 26th. Finally, Avondale Partners restated a “market perform” rating and set a $197.00 target price (up previously from $172.00) on shares of McKesson Corp. in a research report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $201.17.
McKesson Corp. Company Profile
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.
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