McKesson (NYSE:MCK) PT Lowered to $665.00 at Leerink Partners

McKesson (NYSE:MCK) had its price objective reduced by Leerink Partners from $670.00 to $665.00 in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. Leerink Partners currently has an outperform rating on the stock.

Several other brokerages have also weighed in on MCK. StockNews.com lowered McKesson from a strong-buy rating to a buy rating in a research report on Friday, August 9th. Robert W. Baird cut their target price on shares of McKesson from $694.00 to $671.00 and set an outperform rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on McKesson from $656.00 to $661.00 and gave the company an overweight rating in a research report on Wednesday, August 21st. TD Cowen lifted their price objective on shares of McKesson from $563.00 to $652.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Finally, Bank of America upped their price target on McKesson from $590.00 to $670.00 and gave the company a buy rating in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $624.93.

McKesson Stock Performance

Shares of MCK opened at $504.17 on Thursday. McKesson has a one year low of $412.64 and a one year high of $637.51. The stock has a market capitalization of $65.51 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 1.29 and a beta of 0.44. The stock has a 50 day moving average price of $574.75 and a 200 day moving average price of $557.64.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period in the prior year, the business earned $7.27 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that McKesson will post 32.14 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be paid a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s payout ratio is currently 12.69%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Leann B. Smith sold 600 shares of McKesson stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now directly owns 2,022 shares in the company, valued at approximately $1,183,941.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The disclosure for this sale can be found here. Insiders sold 11,859 shares of company stock valued at $6,986,810 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On McKesson

Institutional investors have recently modified their holdings of the company. Private Advisor Group LLC increased its position in McKesson by 12.2% during the fourth quarter. Private Advisor Group LLC now owns 11,061 shares of the company’s stock worth $5,121,000 after purchasing an additional 1,204 shares during the last quarter. Picton Mahoney Asset Management lifted its stake in McKesson by 15.8% during the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the company’s stock worth $271,000 after purchasing an additional 80 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of McKesson in the 4th quarter valued at about $230,000. Wealthspire Advisors LLC boosted its stake in McKesson by 40.6% in the fourth quarter. Wealthspire Advisors LLC now owns 1,604 shares of the company’s stock valued at $742,000 after acquiring an additional 463 shares during the period. Finally, Ethos Financial Group LLC bought a new position in McKesson during the 4th quarter worth $242,000. Institutional investors and hedge funds 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.