McKesson (MCK) Set to Announce Earnings on Wednesday

McKesson (NYSE:MCK – Get Rating) is scheduled to be releasing its earnings data after the market closes on Wednesday, February 1st. Analysts expect McKesson to post earnings of $6.34 per share for the quarter. McKesson has set its FY 2023 guidance at $24.45-$24.95 EPS and its FY23 guidance at $24.45-24.95 EPS.Parties interested in registering for the company’s conference call can do so using this link.

McKesson (NYSE:MCK – Get Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $6.06 EPS for the quarter, missing the consensus estimate of $6.13 by ($0.07). The company had revenue of $70.16 billion during the quarter, compared to analyst estimates of $69.66 billion. McKesson had a net margin of 0.76% and a negative return on equity of 267.09%. On average, analysts expect McKesson to post $25 EPS for the current fiscal year and $26 EPS for the next fiscal year.

McKesson Stock Up 0.4 %

NYSE:MCK opened at $376.50 on Wednesday. The firm has a market cap of $53.39 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 1.51 and a beta of 0.63. McKesson has a 12 month low of $238.59 and a 12 month high of $401.78. The company’s 50-day moving average price is $377.89 and its two-hundred day moving average price is $363.81.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Tracy Faber sold 10,733 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $391.58, for a total value of $4,202,828.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other McKesson news, EVP Tracy Faber sold 10,733 shares of McKesson stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $391.58, for a total transaction of $4,202,828.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lori A. Schechter sold 2,500 shares of the company’s stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $379.79, for a total value of $949,475.00. Following the completion of the transaction, the executive vice president now owns 4,178 shares of the company’s stock, valued at $1,586,762.62. The disclosure for this sale can be found here. Insiders have sold a total of 15,733 shares of company stock valued at $6,129,853 over the last three months. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McKesson

A number of large investors have recently made changes to their positions in MCK. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in McKesson during the 1st quarter valued at approximately $306,000. Zions Bancorporation N.A. raised its stake in shares of McKesson by 286.8% in the first quarter. Zions Bancorporation N.A. now owns 847 shares of the company’s stock worth $259,000 after buying an additional 628 shares during the period. Private Advisory Group LLC purchased a new position in McKesson during the first quarter valued at approximately $235,000. Penserra Capital Management LLC lifted its stake in shares of McKesson by 7.9% during the 1st quarter. Penserra Capital Management LLC now owns 747 shares of the company’s stock valued at $228,000 after buying an additional 55 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of McKesson by 16.6% in the first quarter. Geneos Wealth Management Inc. now owns 716 shares of the company’s stock valued at $219,000 after acquiring an additional 102 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCK. Barclays lifted their target price on shares of McKesson from $375.00 to $415.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 2nd. Cowen boosted their target price on shares of McKesson from $384.00 to $416.00 in a report on Wednesday, November 2nd. Morgan Stanley upped their price objective on McKesson from $403.00 to $420.00 and gave the company an “overweight” rating in a research note on Friday, January 6th. StockNews.com began coverage on shares of McKesson in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company. Finally, Mizuho boosted their price target on McKesson from $345.00 to $376.00 and gave the company a “neutral” rating in a research note on Monday, November 14th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $411.20.

About McKesson

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.