McKesson Corp. (MCK) Upgraded to “Strong-Buy” at Vetr Inc.
Vetr upgraded shares of McKesson Corp. (NYSE:MCK) from a buy rating to a strong-buy rating in a report issued on Friday.
Several other equities research analysts have also recently issued reports on the stock. Goldman Sachs Group Inc. cut shares of McKesson Corp. from a buy rating to a neutral rating and cut their price objective for the stock from $210.00 to $189.00 in a research report on Friday. Leerink Swann reiterated an outperform rating and set a $230.00 price target on shares of McKesson Corp. in a research report on Thursday, September 1st. Mizuho lifted their price target on shares of McKesson Corp. from $174.00 to $197.00 and gave the company a neutral rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. lifted their price target on shares of McKesson Corp. from $210.00 to $221.00 and gave the company an overweight rating in a research report on Tuesday, August 9th. Finally, Zacks Investment Research cut shares of McKesson Corp. from a buy rating to a hold rating in a research report on Monday, August 1st. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $201.95.
Shares of McKesson Corp. (NYSE:MCK) traded up 0.07% during trading on Friday, reaching $166.28. 493,404 shares of the company traded hands. McKesson Corp. has a 52 week low of $148.29 and a 52 week high of $208.03. The stock has a market capitalization of $37.53 billion, a PE ratio of 17.27 and a beta of 0.95. The firm has a 50 day moving average of $189.99 and a 200 day moving average of $178.58.
McKesson Corp. (NYSE:MCK) last released its quarterly earnings data on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.33 by $0.17. McKesson Corp. had a net margin of 1.15% and a return on equity of 31.62%. The firm earned $49.73 billion during the quarter, compared to analysts’ expectations of $50.32 billion. During the same period last year, the business earned $3.14 earnings per share. McKesson Corp.’s revenue was up 4.6% compared to the same quarter last year. On average, equities analysts predict that McKesson Corp. will post $13.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, August 30th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. McKesson Corp.’s dividend payout ratio is presently 11.64%.
In other news, Director Wayne A. Budd sold 2,309 shares of McKesson Corp. stock in a transaction on Monday, September 12th. The shares were sold at an average price of $179.70, for a total value of $414,927.30. Following the transaction, the director now directly owns 723 shares of the company’s stock, valued at approximately $129,923.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marie L/Ca Knowles sold 915 shares of McKesson Corp. stock in a transaction on Monday, August 1st. The shares were sold at an average price of $192.73, for a total transaction of $176,347.95. The disclosure for this sale can be found here. Insiders own 1.15% of the company’s stock.
Several institutional investors have recently made changes to their positions in MCK. Kelman Lazarov Inc. purchased a new position in shares of McKesson Corp. during the second quarter valued at about $115,000. Welch Group LLC purchased a new position in shares of McKesson Corp. during the second quarter valued at about $126,000. Seven Eight Capital LLC purchased a new position in shares of McKesson Corp. during the first quarter valued at about $110,000. Baker Ellis Asset Management LLC boosted its position in shares of McKesson Corp. by 15.7% in the first quarter. Baker Ellis Asset Management LLC now owns 735 shares of the company’s stock valued at $116,000 after buying an additional 100 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. boosted its position in shares of McKesson Corp. by 14.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 816 shares of the company’s stock valued at $152,000 after buying an additional 101 shares in the last quarter. 84.80% of the stock is currently owned by institutional investors and hedge funds.
McKesson Corp. Company Profile
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.
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