Analysts Set McKesson Corporation (NYSE:MCK) PT at $970.73

McKesson Corporation (NYSE:MCK) has been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $963.20.

Several brokerages have issued reports on MCK. Barclays boosted their target price on McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Morgan Stanley reiterated an “overweight” rating and issued a $966.00 price target on shares of McKesson in a research report on Thursday, January 29th. Raymond James Financial set a $970.00 price target on shares of McKesson in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Finally, Mizuho upped their price target on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th.

McKesson Stock Performance

Shares of McKesson stock opened at $736.60 on Monday. McKesson has a 52 week low of $637.00 and a 52 week high of $999.00. The stock has a 50 day moving average price of $864.13 and a two-hundred day moving average price of $858.29. The stock has a market capitalization of $88.54 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.10 and a beta of 0.35.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts forecast that McKesson will post 44.29 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s payout ratio is presently 8.53%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 190 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $945.00, for a total transaction of $179,550.00. Following the completion of the transaction, the executive vice president directly owned 2,989 shares in the company, valued at $2,824,605. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michele Lau sold 2,725 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $990.00, for a total value of $2,697,750.00. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,264 shares of company stock worth $3,205,315 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On McKesson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares during the period. Caxton Associates LLP purchased a new stake in McKesson during the 1st quarter valued at about $233,000. Sivia Capital Partners LLC raised its position in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina raised its position in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in McKesson during the 2nd quarter valued at approximately $166,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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.