McKesson Co. (NYSE:MCK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of McKesson Co. (NYSE:MCK) have earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $645.79.

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Bank of America dropped their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley boosted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th.

McKesson Trading Down 0.8 %

Shares of MCK opened at $653.54 on Wednesday. The company has a market capitalization of $81.91 billion, a PE ratio of 29.92, a PEG ratio of 1.29 and a beta of 0.52. McKesson has a 12 month low of $464.42 and a 12 month high of $663.61. The stock’s 50-day moving average price is $604.12 and its two-hundred day moving average price is $568.96.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Equities research analysts predict that McKesson will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,689 shares of company stock valued at $11,187,351. Corporate insiders own 0.11% of the company’s stock.

Institutional Investors Weigh In On McKesson

Several institutional investors have recently made changes to their positions in MCK. Norges Bank purchased a new stake in shares of McKesson during the fourth quarter worth $1,200,361,000. Farallon Capital Management LLC purchased a new stake in shares of McKesson during the fourth quarter worth $348,044,000. FMR LLC lifted its position in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of McKesson by 59,720.3% during the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock worth $204,553,000 after acquiring an additional 358,322 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.