McKesson Co. (NYSE:MCK) has been assigned an average recommendation of “Buy” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $209.18.
A number of equities research analysts have commented on MCK shares. Cowen raised their price target on shares of McKesson from $210.00 to $224.00 and gave the stock an “outperform” rating in a report on Tuesday, March 2nd. Mizuho raised their price target on shares of McKesson from $190.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, May 12th. Credit Suisse Group raised their price target on shares of McKesson from $192.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 10th. Argus upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $230.00 price target for the company in a report on Tuesday, March 30th. Finally, The Goldman Sachs Group lifted their price objective on shares of McKesson from $231.00 to $257.00 and gave the company a “buy” rating in a report on Friday, May 7th.
Shares of MCK traded down $0.23 during trading hours on Friday, hitting $195.28. 13,881 shares of the stock were exchanged, compared to its average volume of 1,056,485. McKesson has a fifty-two week low of $139.76 and a fifty-two week high of $204.66. The company has a quick ratio of 0.59, a current ratio of 1.03 and a debt-to-equity ratio of 82.70. The business’s 50-day simple moving average is $193.79. The company has a market capitalization of $30.89 billion, a price-to-earnings ratio of -6.83, a P/E/G ratio of 1.47 and a beta of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Tuesday, June 1st will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, May 31st. McKesson’s payout ratio is currently 9.76%.
In other McKesson news, CEO Brian S. Tyler sold 6,798 shares of McKesson stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $200.00, for a total value of $1,359,600.00. Following the sale, the chief executive officer now owns 12,192 shares of the company’s stock, valued at $2,438,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas L. Rodgers sold 198 shares of McKesson stock in a transaction dated Tuesday, June 8th. The stock was sold at an average price of $192.85, for a total transaction of $38,184.30. Following the completion of the sale, the executive vice president now directly owns 1,161 shares in the company, valued at approximately $223,898.85. The disclosure for this sale can be found here. Insiders have sold 19,060 shares of company stock worth $3,752,010 over the last three months. 0.28% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. GWM Advisors LLC bought a new stake in shares of McKesson in the fourth quarter valued at approximately $245,000. Comerica Bank raised its position in shares of McKesson by 10.4% in the fourth quarter. Comerica Bank now owns 39,225 shares of the company’s stock valued at $7,257,000 after purchasing an additional 3,700 shares during the period. Creative Planning raised its position in shares of McKesson by 6.8% in the fourth quarter. Creative Planning now owns 17,034 shares of the company’s stock valued at $2,963,000 after purchasing an additional 1,086 shares during the period. Victory Capital Management Inc. raised its position in shares of McKesson by 14.1% in the fourth quarter. Victory Capital Management Inc. now owns 276,778 shares of the company’s stock valued at $48,137,000 after purchasing an additional 34,157 shares during the period. Finally, Hartford Investment Management Co. grew its stake in McKesson by 7.2% during the fourth quarter. Hartford Investment Management Co. now owns 18,328 shares of the company’s stock valued at $3,188,000 after acquiring an additional 1,224 shares in the last quarter. 85.34% of the stock is currently owned by institutional investors and hedge funds.
McKesson Company Profile
McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).
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