McKesson (NYSE:MCK) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of McKesson (NYSE:MCK) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

MCK has been the topic of a number of other research reports. Barclays boosted their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Citigroup dropped their price target on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft dropped their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company dropped their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $625.64.

McKesson Stock Performance

Shares of McKesson stock opened at $613.12 on Wednesday. The company has a market capitalization of $79.51 billion, a PE ratio of 31.75, a P/E/G ratio of 1.29 and a beta of 0.44. The company has a 50-day simple moving average of $513.03 and a two-hundred day simple moving average of $551.60. McKesson has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.89 by $0.18. McKesson had a negative return on equity of 243.82% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the firm earned $6.23 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. On average, equities analysts predict that McKesson will post 31.92 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given 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 is presently 14.71%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MCK. LRI Investments LLC acquired a new position in shares of McKesson during the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% during the 3rd 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. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson during the 3rd quarter worth approximately $29,000. ORG Wealth Partners LLC acquired a new position in McKesson in the 3rd quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in McKesson in the 2nd quarter valued at $52,000. 85.07% of the stock is owned by institutional investors and hedge funds.

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.