McKesson Co. (NYSE:MCK) Receives $533.50 Average Price Target from Analysts

Shares of McKesson Co. (NYSE:MCK) have been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $533.50.

MCK has been the topic of a number of recent analyst reports. SVB Leerink initiated coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Argus increased their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Citigroup raised their target price on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, Morgan Stanley raised their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Institutional Trading of McKesson

Several hedge funds have recently bought and sold shares of MCK. OFI Invest Asset Management bought a new stake in McKesson in the 3rd quarter valued at about $26,000. Legacy Financial Group LLC bought a new stake in McKesson in the 3rd quarter valued at about $27,000. Sachetta LLC bought a new stake in McKesson in the 4th quarter valued at about $27,000. Register Financial Advisors LLC bought a new stake in McKesson in the 1st quarter valued at about $29,000. Finally, BKM Wealth Management LLC bought a new stake in shares of McKesson during the 4th quarter worth about $31,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of MCK opened at $531.87 on Friday. The company has a market capitalization of $69.89 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.42 and a beta of 0.45. The company’s 50 day simple moving average is $526.12 and its 200 day simple moving average is $488.15. McKesson has a 1 year low of $352.34 and a 1 year high of $543.00.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.90 earnings per share. Equities analysts expect that McKesson will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

McKesson Company Profile

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.