McKesson Corporation (NYSE:MCK) Receives $977.00 Average PT from Brokerages

McKesson Corporation (NYSE:MCK) has been assigned an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $973.4375.

Several brokerages have commented on MCK. Weiss Ratings downgraded shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Morgan Stanley reissued an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Citigroup upped their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price target on shares of McKesson in a report on Friday, May 8th.

Insiders Place Their Bets

In other news, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On McKesson

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of McKesson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after buying an additional 73,109 shares in the last quarter. BlackRock Inc. purchased a new stake in McKesson in the second quarter worth approximately $8,156,743,000. State Street Corp boosted its stake in McKesson by 0.5% in the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after buying an additional 29,660 shares in the last quarter. Geode Capital Management LLC grew its position in McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after acquiring an additional 25,082 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after acquiring an additional 144,633 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $862.27 on Wednesday. The business’s fifty day moving average is $820.97 and its 200 day moving average is $843.86. The firm has a market cap of $100.53 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.65 and a beta of 0.30. McKesson has a 52-week low of $673.38 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter last year, the company earned $8.26 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities analysts predict that McKesson will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 8.78%.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.