McKesson Co. (NYSE:MCK) Receives $645.79 Average Target Price from Analysts

McKesson Co. (NYSE:MCK) has been given a consensus rating of “Moderate Buy” by the fifteen research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $649.36.

A number of equities analysts recently commented on the stock. Bank of America lowered their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Morgan Stanley increased their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company boosted their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th.

McKesson Price Performance

MCK stock opened at $661.63 on Wednesday. The business’s 50-day moving average is $611.56 and its two-hundred day moving average is $572.36. The firm has a market capitalization of $82.92 billion, a P/E ratio of 30.29, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson has a 1 year low of $464.42 and a 1 year high of $663.62.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts expect that McKesson will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by company insiders.

Institutional Investors Weigh In On McKesson

A number of institutional investors have recently added to or reduced their stakes in MCK. Capital A Wealth Management LLC acquired a new position in shares of McKesson during the 4th quarter worth $26,000. Millstone Evans Group LLC purchased a new stake in McKesson during the fourth quarter worth about $28,000. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter valued at about $31,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of McKesson during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors 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.