McKesson (NYSE:MCK) Announces Quarterly Earnings Results

McKesson (NYSE:MCK) released its earnings results on Wednesday. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.89 by $0.18, Briefing.com reports. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the business posted $6.23 EPS. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year.

McKesson Stock Up 10.6 %

MCK stock traded up $58.20 on Thursday, reaching $607.51. 2,465,151 shares of the company’s stock were exchanged, compared to its average volume of 820,315. The firm has a market cap of $78.78 billion, a PE ratio of 27.11, a P/E/G ratio of 1.23 and a beta of 0.44. McKesson has a twelve month low of $431.35 and a twelve month high of $637.51. The stock has a fifty day moving average of $510.96 and a 200-day moving average of $550.61.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 12.70%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCK. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the company from $531.00 to $688.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company reduced their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Finally, Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $625.64.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% 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.