McKesson (NYSE:MCK) Reaches New 12-Month High at $544.36

Shares of McKesson Co. (NYSE:MCK) hit a new 52-week high on Friday . The stock traded as high as $544.36 and last traded at $543.33, with a volume of 259224 shares changing hands. The stock had previously closed at $539.94.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Mizuho boosted their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Morgan Stanley upped their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Barclays began coverage on shares of McKesson in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price on the stock. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $533.50.

McKesson Price Performance

The company has a market capitalization of $71.40 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. The company’s 50 day simple moving average is $527.50 and its 200 day simple moving average is $488.84.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $6.90 earnings per share. On average, equities analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is currently 11.24%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates raised its stake in McKesson by 6.1% in the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after purchasing an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in McKesson by 6.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after purchasing an additional 5,425 shares during the last quarter. Insight Wealth Strategies LLC acquired a new position in McKesson in the 4th quarter valued at about $1,813,000. Aspire Private Capital LLC raised its stake in McKesson by 3.2% in the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock valued at $851,000 after purchasing an additional 60 shares during the last quarter. Finally, Argus Investors Counsel Inc. acquired a new position in McKesson in the 4th quarter valued at about $891,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.