McKesson (NYSE:MCK) Sets New 1-Year High at $544.36

Shares of McKesson Co. (NYSE:MCK) reached a new 52-week high on Friday . The company traded as high as $544.36 and last traded at $543.33, with a volume of 259224 shares. The stock had previously closed at $539.94.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MCK shares. Citigroup raised their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday. Mizuho raised their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. SVB Leerink assumed coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Stock Performance

The business’s 50-day moving average is $528.15 and its two-hundred day moving average is $489.72. The stock has a market capitalization of $71.40 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm posted $6.90 EPS. Equities analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. McKesson’s payout ratio is currently 11.24%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Register Financial Advisors LLC acquired a new position in shares of McKesson during the 1st quarter worth $29,000. Sachetta LLC acquired a new position in McKesson in the 4th quarter valued at about $27,000. Legacy Financial Group LLC acquired a new position in McKesson in the 3rd quarter valued at about $27,000. OFI Invest Asset Management acquired a new position in McKesson in the 3rd quarter valued at about $26,000. Finally, Newbridge Financial Services Group Inc. raised its stake in McKesson by 333.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.