McKesson (NYSE:MCK) Rating Increased to Hold at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of McKesson (NYSE:MCK) to a hold rating in a research note published on Wednesday morning, MarketBeat reports.

A number of other research analysts also recently issued reports on the stock. TD Cowen lifted their price target on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Citigroup lifted their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, William Blair started coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $973.44.

McKesson Price Performance

MCK opened at $853.53 on Wednesday. The business has a fifty day moving average price of $818.34 and a 200 day moving average price of $843.66. McKesson has a 12 month low of $673.38 and a 12 month high of $999.00. The stock has a market capitalization of $99.51 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.McKesson’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts anticipate that McKesson will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

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

Insider Buying and Selling

In related news, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% 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. Insiders have sold a total of 29,049 shares of company stock valued at $22,530,626 over the last ninety days. Company insiders own 0.06% of the company’s stock.

Institutional Trading of McKesson

Institutional investors and hedge funds have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson in the fourth quarter valued at $25,000. Swiss RE Ltd. acquired a new stake in shares of McKesson during the fourth quarter worth about $26,000. Delos Wealth Advisors LLC purchased a new position in shares of McKesson during the second quarter worth about $27,000. State of Wyoming purchased a new position in shares of McKesson during the second quarter worth about $29,000. Finally, Kingdom Financial Group LLC. acquired a new position in McKesson in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.