McKesson (NYSE:MCK) Stock Price Up 0.2%

McKesson Co. (NYSE:MCK) shares were up 0.2% during trading on Friday . The stock traded as high as $563.86 and last traded at $559.24. Approximately 61,134 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 705,097 shares. The stock had previously closed at $558.03.

Analyst Upgrades and Downgrades

Several analysts have commented on MCK shares. Argus lifted their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. UBS Group boosted their target price on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Barclays boosted their target price on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Mizuho boosted their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $571.47.

McKesson Stock Performance

The stock has a 50 day moving average price of $538.10 and a two-hundred day moving average price of $501.87. The company has a market capitalization of $72.71 billion, a PE ratio of 24.99, a P/E/G ratio of 1.30 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $7.19 EPS. Sell-side analysts predict that McKesson Co. will post 31.57 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is currently 11.08%.

Insider Buying and Selling at McKesson

In other McKesson news, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred 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 sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Insiders have sold 4,080 shares of company stock valued at $2,160,489 in the last 90 days. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On McKesson

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in McKesson in the 4th quarter valued at $1,024,140,000. Swedbank AB bought a new position in McKesson in the 1st quarter valued at $669,326,000. International Assets Investment Management LLC raised its position in 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 purchasing an additional 749,504 shares during the last quarter. 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, TD Asset Management Inc increased its stake in shares of McKesson by 202.8% in the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after buying an additional 403,312 shares during the period. Institutional investors own 85.07% of the company’s stock.

About McKesson

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.