McKesson (NYSE:MCK) Releases Quarterly Earnings Results, Misses Estimates By $0.57 EPS

McKesson (NYSE:MCK) issued its earnings results on Wednesday. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57), Zacks reports. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%.

McKesson Stock Up 0.3 %

Shares of NYSE:MCK traded up $2.05 during midday trading on Wednesday, hitting $605.37. The stock had a trading volume of 1,352,177 shares, compared to its average volume of 719,278. The company has a market capitalization of $76.85 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company’s 50-day moving average price is $590.03 and its 200-day moving average price is $562.26. McKesson has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI upped their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by insiders.

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.