McKesson (NYSE:MCK – Free Report) had its price objective increased by Citigroup from $530.00 to $575.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.
MCK has been the subject of several other research reports. UBS Group raised their price target on shares of McKesson from $525.00 to $559.00 and gave the company a buy rating in a research note on Monday, January 29th. TD Cowen raised their price target on shares of McKesson from $508.00 to $563.00 and gave the company an outperform rating in a research note on Monday, December 11th. StockNews.com downgraded shares of McKesson from a strong-buy rating to a buy rating in a research note on Thursday, January 4th. Barclays began coverage on shares of McKesson in a research note on Wednesday, January 3rd. They set an overweight rating and a $537.00 price target for the company. Finally, Wells Fargo & Company began coverage on shares of McKesson in a research note on Thursday, December 14th. They set an equal weight rating and a $502.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $507.31.
McKesson Price Performance
McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 275.97%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.90 EPS. As a group, analysts expect that McKesson will post 27.27 EPS for the current year.
McKesson Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.
Insider Transactions at McKesson
In other news, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $20,853,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of MCK. Norges Bank bought a new position in shares of McKesson during the 4th quarter valued at approximately $633,960,000. International Assets Investment Management LLC lifted its stake in shares of McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after buying an additional 749,504 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after buying an additional 708,438 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of McKesson by 94,078.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock valued at $223,628,000 after buying an additional 595,518 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of McKesson during the 2nd quarter valued at approximately $213,522,000. 82.69% of the stock is owned by institutional investors.
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.
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