McKesson Corporation (MCK) Upgraded to “Strong-Buy” by Vetr Inc.

Vetr upgraded shares of McKesson Corporation (NYSE:MCK) from a buy rating to a strong-buy rating in a report published on Monday. Vetr currently has $181.27 price target on the stock.

Several other research analysts have also weighed in on MCK. Credit Suisse Group reiterated a sell rating on shares of McKesson Corporation in a research note on Friday, March 3rd. Citigroup Inc. upped their price objective on shares of McKesson Corporation from $169.00 to $175.00 and gave the company a buy rating in a research note on Monday, March 6th. Needham & Company LLC assumed coverage on shares of McKesson Corporation in a research note on Tuesday, April 4th. They issued a hold rating on the stock. Evercore ISI restated an outperform rating and set a $166.00 price target on shares of McKesson Corporation in a research note on Monday, April 17th. Finally, Leerink Swann restated a hold rating and set a $140.00 price target on shares of McKesson Corporation in a research note on Friday, April 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $170.89.

Shares of McKesson Corporation (NYSE MCK) traded down 0.14% during trading on Monday, hitting $161.53. 150,316 shares of the company’s stock were exchanged. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $199.43. The stock’s 50 day moving average is $153.91 and its 200 day moving average is $147.10. The firm has a market capitalization of $34.07 billion, a PE ratio of 7.11 and a beta of 1.15.

McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, May 18th. The company reported $3.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.04 by $0.35. The firm had revenue of $48.71 billion for the quarter, compared to analyst estimates of $49.48 billion. McKesson Corporation had a net margin of 2.55% and a return on equity of 29.99%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 EPS. On average, equities research analysts forecast that McKesson Corporation will post $12.14 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 5th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Thursday, June 1st. McKesson Corporation’s dividend payout ratio is currently 4.80%.

In other McKesson Corporation news, Chairman John H. Hammergren sold 100,500 shares of the stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $150.44, for a total value of $15,119,220.00. Following the completion of the sale, the chairman now directly owns 22,390 shares of the company’s stock, valued at approximately $3,368,351.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Erin M. Lampert sold 404 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $160.53, for a total transaction of $64,854.12. Following the completion of the sale, the senior vice president now directly owns 2,003 shares of the company’s stock, valued at $321,541.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 159,648 shares of company stock valued at $24,773,475. 1.15% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of McKesson Corporation by 2,026.2% in the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock worth $2,105,140,000 after buying an additional 13,531,173 shares during the period. Ballentine Partners LLC bought a new stake in shares of McKesson Corporation during the first quarter worth $191,000. Parnassus Investments CA increased its stake in shares of McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock worth $620,727,000 after buying an additional 3,236,594 shares during the period. Norges Bank bought a new stake in shares of McKesson Corporation during the fourth quarter worth $268,672,000. Finally, Pzena Investment Management LLC increased its stake in shares of McKesson Corporation by 1,015.0% in the first quarter. Pzena Investment Management LLC now owns 2,077,104 shares of the company’s stock worth $307,951,000 after buying an additional 1,890,815 shares during the period. 89.33% of the stock is owned by hedge funds and other institutional investors.

About McKesson Corporation

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MCK”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view Vetr’s full report, visit Vetr’s official website.

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