McKesson (NYSE:MCK) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of McKesson (NYSE:MCK) from a buy rating to a strong-buy rating in a report published on Thursday morning.

Other analysts also recently issued reports about the company. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Citigroup cut their price target on 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 McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $645.79.

McKesson Trading Down 1.3 %

Shares of McKesson stock opened at $598.85 on Thursday. The business has a 50-day moving average price of $589.61 and a two-hundred day moving average price of $562.56. McKesson has a 1-year low of $464.42 and a 1-year high of $637.51. The company has a market cap of $76.02 billion, a P/E ratio of 31.01, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. Equities research analysts forecast that McKesson will post 32.72 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of McKesson 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 owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On McKesson

Hedge funds have recently modified their holdings of the stock. Synergy Asset Management LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the 3rd quarter worth approximately $29,000. Crews Bank & Trust bought a new stake in McKesson during the 4th quarter valued at $33,000. Wolff Wiese Magana LLC raised its holdings in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the period. Finally, RPg Family Wealth Advisory LLC bought a new stake in McKesson during the 3rd quarter valued at $31,000. Institutional investors own 85.07% of the company’s stock.

McKesson Company Profile

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.