McKesson Co. (NYSE:MCK – Get Free Report) shares rose 1.7% during mid-day trading on Wednesday after Argus raised their price target on the stock from $510.00 to $570.00. Argus currently has a buy rating on the stock. McKesson traded as high as $536.83 and last traded at $536.25. Approximately 55,159 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 701,256 shares. The stock had previously closed at $527.28.
A number of other analysts have also issued reports on MCK. Mizuho raised their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. SVB Leerink assumed coverage on McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Barclays assumed coverage on McKesson in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. Finally, Wells Fargo & Company assumed coverage on McKesson in a research report on Thursday, December 14th. They issued an “equal weight” rating and a $502.00 price objective for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $528.64.
Check Out Our Latest Research Report on MCK
Insider Buying and Selling
Hedge Funds Weigh In On McKesson
Several institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of McKesson in the 4th quarter valued at $1,024,140,000. Viking Global Investors LP increased its stake in shares of McKesson by 53.2% in the 4th quarter. Viking Global Investors LP now owns 2,233,205 shares of the company’s stock valued at $1,033,929,000 after buying an additional 775,480 shares during the period. International Assets Investment Management LLC increased its stake in shares of McKesson by 1,044.5% in 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 during the period. Massachusetts Financial Services Co. MA increased its stake in shares of McKesson by 16.0% in 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 during the period. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of McKesson by 94,078.7% in 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 during the period. Institutional investors own 85.07% of the company’s stock.
McKesson Trading Up 0.5 %
The company has a 50 day moving average price of $522.26 and a 200 day moving average price of $482.59. The company has a market capitalization of $69.65 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.44 and a beta of 0.45.
McKesson (NYSE:MCK – Get Free Report) last released its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $6.90 EPS. Equities analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.
McKesson Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.
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.
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