McKesson Co. (NYSE:MCK) Receives Average Recommendation of “Moderate Buy” from Analysts

McKesson Co. (NYSE:MCK) has been assigned a consensus rating of “Moderate Buy” from the sixteen analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $635.86.

A number of analysts have recently issued reports on MCK shares. JPMorgan Chase & Co. lifted their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Leerink Partners cut their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th.

Hedge Funds Weigh In On McKesson

Several hedge funds and other institutional investors have recently modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter valued at about $29,000. Wolff Wiese Magana LLC boosted its position in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. RPg Family Wealth Advisory LLC bought a new position in McKesson in the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new stake in McKesson in the 3rd quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. bought a new stake in McKesson during the 2nd quarter valued at $52,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 0.7 %

NYSE:MCK opened at $603.53 on Monday. The firm’s fifty day simple moving average is $554.83 and its 200 day simple moving average is $561.91. McKesson has a twelve month low of $431.35 and a twelve month high of $637.51. The firm has a market capitalization of $76.61 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 1.32 and a beta of 0.49.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the firm posted $6.23 earnings per share. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. On average, analysts predict that McKesson will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s payout ratio is currently 14.71%.

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.