McKesson Corporation (NYSE:MCK) Stock Has Average Target Price of $973.19

Shares of McKesson Corporation (NYSE:MCK) have received an average rating of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $983.29.

A number of analysts have recently commented on the company. Evercore reissued an “outperform” rating and issued a $950.00 price target (down from $1,000.00) on shares of McKesson in a research report on Thursday, August 6th. Argus upped their price target on McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $845.00 price objective on shares of McKesson in a research report on Monday, September 14th. Mizuho lifted their price objective on McKesson from $885.00 to $905.00 in a research note on Thursday, August 6th. Finally, Robert W. Baird set a $1,015.00 price objective on McKesson in a research note on Thursday, August 6th.

Insider Activity

In other news, CAO B Jr sold 111 shares of McKesson stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at $464,445.45. The trade was a 17.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On McKesson

Institutional investors have recently made changes to their positions in the company. Mather Group LLC. raised its holdings in McKesson by 3.7% in the third quarter. Mather Group LLC. now owns 1,523 shares of the company’s stock worth $1,301,000 after purchasing an additional 54 shares in the last quarter. First Pacific Financial purchased a new stake in shares of McKesson during the third quarter valued at about $64,000. SC&H Financial Advisors Inc. bought a new stake in shares of McKesson in the 3rd quarter valued at about $224,000. Columbus Macro LLC bought a new stake in shares of McKesson in the 3rd quarter valued at about $216,000. Finally, Sanders Morris Harris LLC bought a new stake in shares of McKesson in the 3rd quarter valued at about $2,877,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $977.31 on Thursday. McKesson has a 1 year low of $723.68 and a 1 year high of $999.00. The firm has a 50-day moving average of $892.49 and a 200 day moving average of $835.35. The stock has a market cap of $113.94 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 2.02 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter in the prior year, the company earned $8.26 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts expect that McKesson will post 44.73 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 10.06%.

About McKesson

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.