McKesson Corporation (NYSE:MCK) Receives $899.36 Average Target Price from Brokerages

Shares of McKesson Corporation (NYSE:MCK) have earned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $899.3571.

Several research firms recently weighed in on MCK. Barclays initiated coverage on shares of McKesson in a report on Monday, December 8th. They issued an “overweight” rating and a $960.00 price objective for the company. Jefferies Financial Group boosted their price target on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Wells Fargo & Company increased their price objective on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a research note on Monday, December 29th. Finally, Evercore ISI restated an “outperform” rating and issued a $1,000.00 target price on shares of McKesson in a research report on Thursday, November 6th.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total value of $225,265.68. Following the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,851,096.24. The trade was a 10.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Obsidian Personal Planning Solutions LLC grew its holdings in shares of McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock worth $346,000 after acquiring an additional 12 shares during the last quarter. IAM Advisory LLC boosted its position in shares of McKesson by 0.3% in the 3rd quarter. IAM Advisory LLC now owns 3,908 shares of the company’s stock valued at $3,019,000 after purchasing an additional 13 shares during the period. PDS Planning Inc boosted its position in shares of McKesson by 1.1% in the 3rd quarter. PDS Planning Inc now owns 1,209 shares of the company’s stock valued at $934,000 after purchasing an additional 13 shares during the period. Berkshire Asset Management LLC PA increased its stake in McKesson by 4.6% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company’s stock worth $227,000 after purchasing an additional 13 shares in the last quarter. Finally, Norden Group LLC raised its holdings in McKesson by 4.3% during the 4th quarter. Norden Group LLC now owns 317 shares of the company’s stock worth $260,000 after buying an additional 13 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 1.8%

MCK opened at $846.30 on Friday. The business’s 50 day moving average is $827.63 and its 200-day moving average is $775.37. The stock has a market cap of $104.46 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40. McKesson has a twelve month low of $570.51 and a twelve month high of $895.58.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $7.07 EPS. As a group, analysts forecast that McKesson will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

McKesson Company Profile

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.