McKesson (NYSE:MCK) Reaches New 12-Month High at $256.00

McKesson Co. (NYSE:MCK) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $256.00 and last traded at $255.97, with a volume of 4676 shares traded. The stock had previously closed at $254.63.

Several research analysts recently issued reports on MCK shares. Evercore ISI upped their price target on shares of McKesson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 2nd. Cowen upped their target price on shares of McKesson from $268.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, December 6th. Bank of America upped their target price on shares of McKesson from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 9th. Jefferies Financial Group upped their target price on shares of McKesson from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, November 2nd. Finally, Barclays upped their target price on shares of McKesson from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, December 9th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $277.42.

The business’s 50-day moving average is $233.38 and its two-hundred day moving average is $212.52.

McKesson (NYSE:MCK) last posted its earnings results on Sunday, October 31st. The company reported $6.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $1.49. McKesson had a negative return on equity of 5,793.16% and a negative net margin of 1.92%. The business had revenue of $66.58 billion during the quarter, compared to analysts’ expectations of $63.23 billion. During the same period in the prior year, the business earned $4.80 EPS. McKesson’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts expect that McKesson Co. will post 22.71 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Investors of record on Wednesday, December 1st were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, November 30th. This represents a $1.88 dividend on an annualized basis and a yield of 0.73%. McKesson’s payout ratio is -6.25%.

In other news, EVP Tracy Faber sold 8,426 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $222.92, for a total transaction of $1,878,323.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Lori A. Schechter sold 15,842 shares of the firm’s stock in a transaction that occurred on Wednesday, December 29th. The stock was sold at an average price of $250.00, for a total transaction of $3,960,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,633 shares of company stock valued at $15,322,645. 0.28% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Investors Financial Group LLC boosted its holdings in shares of McKesson by 8.0% in the 4th quarter. Investors Financial Group LLC now owns 2,695 shares of the company’s stock valued at $670,000 after buying an additional 200 shares during the last quarter. BKD Wealth Advisors LLC boosted its holdings in shares of McKesson by 1.2% in the 4th quarter. BKD Wealth Advisors LLC now owns 10,164 shares of the company’s stock valued at $2,526,000 after buying an additional 124 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in shares of McKesson by 8.1% in the 4th quarter. Gateway Investment Advisers LLC now owns 4,034 shares of the company’s stock valued at $1,003,000 after buying an additional 303 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of McKesson in the 4th quarter valued at approximately $289,000. Finally, Koshinski Asset Management Inc. boosted its holdings in shares of McKesson by 5.6% in the 4th quarter. Koshinski Asset Management Inc. now owns 5,818 shares of the company’s stock valued at $1,446,000 after buying an additional 308 shares during the last quarter. 85.12% of the stock is owned by institutional investors.

McKesson Company Profile (NYSE:MCK)

McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions (“RxTS“).

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