Brokerages Set McKesson Corporation (NYSE:MCK) PT at $960.53

Shares of McKesson Corporation (NYSE:MCK) have been assigned an average rating of “Moderate Buy” from the seventeen research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $960.5333.

Several research analysts have weighed in on MCK shares. Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Citigroup dropped their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. JPMorgan Chase & Co. cut their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Wells Fargo & Company lowered their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th.

McKesson Stock Up 2.5%

NYSE:MCK traded up $19.92 on Tuesday, hitting $804.15. The stock had a trading volume of 278,592 shares, compared to its average volume of 940,647. The business’s fifty day moving average is $769.23 and its 200 day moving average is $839.09. The company has a market cap of $94.15 billion, a PE ratio of 20.91, a P/E/G ratio of 1.29 and a beta of 0.31. McKesson has a 52 week low of $637.00 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the previous year, the company posted $10.12 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts predict that McKesson will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a dividend of $0.82 per share. The ex-dividend date was Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is 8.53%.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the transaction, the chief executive officer directly owned 14,382 shares in the company, valued at $11,147,919.66. This represents a 37.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 20,285 shares of company stock valued at $15,546,137. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On McKesson

A number of institutional investors have recently added to or reduced their stakes in the company. CGN Advisors LLC boosted its stake in shares of McKesson by 6.1% in the 2nd quarter. CGN Advisors LLC now owns 4,520 shares of the company’s stock worth $3,415,000 after buying an additional 260 shares during the last quarter. CoreCap Advisors LLC grew its holdings in shares of McKesson by 6.1% in the second quarter. CoreCap Advisors LLC now owns 367 shares of the company’s stock valued at $277,000 after acquiring an additional 21 shares in the last quarter. Pacific Excel Wealth Advisors Inc. purchased a new stake in shares of McKesson during the second quarter valued at approximately $1,337,000. CX Institutional lifted its holdings in McKesson by 12.1% during the second quarter. CX Institutional now owns 15,463 shares of the company’s stock worth $11,684,000 after acquiring an additional 1,672 shares during the period. Finally, VectorGlobal IAG Inc. bought a new stake in McKesson during the first quarter worth $9,196,000. 85.07% of the stock is owned by institutional investors.

About McKesson

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.