McKesson Co. (NYSE:MCK - Get Free Report) Director Maria Martinez sold 483 shares of the company's stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
McKesson Trading Down 0.0 %
Shares of MCK stock opened at $591.17 on Wednesday. The stock has a market cap of $76.85 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.37 and a beta of 0.47. The stock has a 50-day moving average of $548.00 and a 200-day moving average of $513.00. McKesson Co. has a 1-year low of $389.48 and a 1-year high of $592.12.
McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $7.19 EPS. Sell-side analysts forecast that McKesson Co. will post 31.54 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. McKesson's payout ratio is 11.08%.
Institutional Investors Weigh In On McKesson
Several institutional investors and hedge funds have recently made changes to their positions in MCK. Norges Bank bought a new stake in shares of McKesson during the 4th quarter valued at about $1,024,140,000. Swedbank AB bought a new stake in shares of McKesson during the 1st quarter valued at about $669,326,000. International Assets Investment Management LLC boosted its position in shares of McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company's stock valued at $380,228,000 after purchasing an additional 749,504 shares in the last quarter. TD Asset Management Inc boosted its position in shares of McKesson by 202.8% during the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company's stock valued at $278,778,000 after purchasing an additional 403,312 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company's stock valued at $187,572,000 after purchasing an additional 340,007 shares in the last quarter. Institutional investors own 85.07% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. UBS Group boosted their price target on McKesson from $620.00 to $630.00 and gave the stock a "buy" rating in a report on Wednesday, May 8th. Citigroup boosted their price target on McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a report on Tuesday, April 30th. Robert W. Baird boosted their price target on McKesson from $603.00 to $671.00 and gave the stock an "outperform" rating in a report on Wednesday, May 8th. Argus boosted their price target on McKesson from $510.00 to $570.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th. Finally, Leerink Partnrs reissued an "outperform" rating on shares of McKesson in a report on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, McKesson presently has an average rating of "Moderate Buy" and an average target price of $571.47.
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.
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