McKesson Corporation (NYSE:MCK) Given Average Rating of “Moderate Buy” by Analysts

McKesson Corporation (NYSE:MCK) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $968.8667.

MCK has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. William Blair initiated coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Weiss Ratings cut McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the sale, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction 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 in the company, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. 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 three months, insiders have sold 6,893 shares of company stock worth $5,225,385. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On McKesson

Hedge funds and other institutional investors have recently modified their holdings of the stock. GGM Financials LLC bought a new stake in shares of McKesson during the third quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of McKesson during the fourth quarter valued at about $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson during the fourth quarter valued at about $26,000. State of Wyoming bought a new stake in shares of McKesson during the second quarter valued at about $29,000. Finally, Hopwood Financial Services Inc. bought a new stake in shares of McKesson during the third quarter valued at about $31,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 2.2%

NYSE MCK opened at $783.71 on Friday. The company’s fifty day simple moving average is $802.84 and its 200-day simple moving average is $847.76. McKesson has a 52 week low of $637.00 and a 52 week high of $999.00. The stock has a market cap of $94.20 billion, a P/E ratio of 20.37, a PEG ratio of 1.26 and a beta of 0.31.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same period in the previous year, the company posted $10.12 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, research analysts expect that McKesson will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

About McKesson

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.