Brokers Set Expectations for McKesson Co.’s Q1 2023 Earnings (NYSE:MCK)

McKesson Co. (NYSE:MCKGet Rating) – Stock analysts at Jefferies Financial Group lifted their Q1 2023 earnings per share (EPS) estimates for shares of McKesson in a report issued on Tuesday, May 31st. Jefferies Financial Group analyst B. Tanquilut now forecasts that the company will earn $5.35 per share for the quarter, up from their prior forecast of $4.96. Jefferies Financial Group also issued estimates for McKesson’s Q4 2023 earnings at $6.10 EPS and FY2024 earnings at $25.61 EPS.

A number of other equities research analysts have also weighed in on MCK. Deutsche Bank Aktiengesellschaft boosted their price objective on McKesson from $270.00 to $343.00 in a research report on Tuesday, May 10th. Credit Suisse Group upped their price objective on McKesson from $333.00 to $377.00 in a research note on Wednesday, May 11th. Morgan Stanley lifted their target price on shares of McKesson from $292.00 to $370.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. UBS Group upped their price target on shares of McKesson to $380.00 and gave the company a “hold” rating in a research report on Thursday, May 19th. Finally, Cowen boosted their price objective on shares of McKesson from $325.00 to $361.00 and gave the stock an “outperform” rating in a research note on Monday, April 18th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $326.00.

Shares of NYSE:MCK opened at $318.58 on Friday. McKesson has a 52-week low of $184.43 and a 52-week high of $339.94. The company has a market capitalization of $46.31 billion, a PE ratio of 44.19, a price-to-earnings-growth ratio of 1.47 and a beta of 0.66. The company has a fifty day moving average of $320.78 and a 200-day moving average of $277.33.

McKesson (NYSE:MCKGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $5.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.06 by ($0.23). McKesson had a negative return on equity of 538.84% and a net margin of 0.42%. The company had revenue of $66.10 billion for the quarter, compared to analyst estimates of $63.82 billion. During the same quarter in the prior year, the company earned $5.05 earnings per share. McKesson’s revenue for the quarter was up 11.8% compared to the same quarter last year.

Institutional investors and hedge funds have recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC raised its holdings in shares of McKesson by 3.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 961 shares of the company’s stock valued at $295,000 after purchasing an additional 32 shares during the last quarter. Keystone Financial Services increased its stake in McKesson by 1.4% in the 1st quarter. Keystone Financial Services now owns 2,323 shares of the company’s stock valued at $758,000 after buying an additional 33 shares during the last quarter. Covestor Ltd lifted its position in shares of McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after buying an additional 34 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of McKesson by 9.9% in the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $119,000 after buying an additional 35 shares during the last quarter. Finally, Cambridge Trust Co. grew its holdings in shares of McKesson by 6.9% in the first quarter. Cambridge Trust Co. now owns 556 shares of the company’s stock valued at $170,000 after acquiring an additional 36 shares in the last quarter. 85.45% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Thomas L. Rodgers sold 209 shares of the company’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $326.90, for a total transaction of $68,322.10. Following the transaction, the executive vice president now directly owns 3,353 shares of the company’s stock, valued at $1,096,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Britt J. Vitalone sold 27,281 shares of McKesson stock in a transaction on Friday, May 27th. The shares were sold at an average price of $333.16, for a total transaction of $9,088,937.96. Following the completion of the sale, the chief financial officer now directly owns 13,693 shares of the company’s stock, valued at approximately $4,561,959.88. The disclosure for this sale can be found here. Insiders sold a total of 75,347 shares of company stock valued at $24,765,317 in the last quarter. 0.28% of the stock is currently owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 1st will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Tuesday, May 31st. McKesson’s dividend payout ratio (DPR) is 26.07%.

McKesson Company Profile (Get Rating)

McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

Further Reading

Earnings History and Estimates for McKesson (NYSE:MCK)

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