McKesson (NYSE:MCK) Sets New 52-Week High at $538.30

Shares of McKesson Co. (NYSE:MCK) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $538.30 and last traded at $537.51, with a volume of 108236 shares traded. The stock had previously closed at $532.55.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MCK shares. Mizuho boosted their target price on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Barclays assumed coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price on the stock. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, Citigroup raised their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $522.21.

McKesson Stock Performance

The company has a market cap of $70.55 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.64 and a beta of 0.44. The firm’s fifty day moving average is $512.99 and its two-hundred day moving average is $475.15.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the prior year, the company posted $6.90 earnings per share. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that McKesson Co. will post 27.61 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Thursday, February 29th. McKesson’s payout ratio is currently 11.24%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total value of $6,732,480.00. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $20,853,600. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 14,026 shares of McKesson stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total value of $6,732,480.00. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,685 shares of company stock worth $8,646,498. 0.21% of the stock is owned by insiders.

Institutional Trading of McKesson

A number of institutional investors have recently bought and sold shares of the stock. Fairfield Bush & CO. purchased a new position in McKesson during the 1st quarter valued at $46,000. Synovus Financial Corp grew its holdings in shares of McKesson by 4.0% in the first quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock worth $673,000 after purchasing an additional 85 shares during the last quarter. Prudential PLC purchased a new position in McKesson in the 1st quarter worth about $1,610,000. Cetera Investment Advisers lifted its holdings in McKesson by 17.8% during the 1st quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock valued at $3,012,000 after buying an additional 1,490 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new stake in McKesson in the 1st quarter valued at about $598,000. 85.07% of the stock is currently owned by institutional investors.

About McKesson

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.