McKesson (NYSE:MCK) Releases Earnings Results, Beats Expectations By $0.19 EPS

McKesson (NYSE:MCK) posted its quarterly earnings data on Wednesday. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19, Briefing.com reports. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 243.82%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.23 EPS.

McKesson Stock Up 0.9 %

NYSE:MCK opened at $613.12 on Friday. The stock has a market capitalization of $79.51 billion, a price-to-earnings ratio of 31.75, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44. The stock’s fifty day moving average is $513.03 and its two-hundred day moving average is $551.60. McKesson has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MCK shares. Deutsche Bank Aktiengesellschaft dropped their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Mizuho raised their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Citigroup decreased their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a research report on Thursday. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $625.64.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by insiders.

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.