McKesson (MCK) Shares Gap Down to $149.02

McKesson Co. (NYSE:MCK)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $153.04, but opened at $149.02. McKesson shares last traded at $146.18, with a volume of 2460984 shares changing hands.

MCK has been the subject of several research reports. Credit Suisse Group reissued a “sell” rating and set a $130.00 price objective on shares of McKesson in a report on Friday, February 2nd. Mizuho set a $168.00 price objective on McKesson and gave the company a “hold” rating in a report on Tuesday, October 24th. ValuEngine raised McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $177.00 price objective for the company in a report on Tuesday, December 26th. Finally, Needham & Company LLC reissued a “buy” rating and set a $173.00 price objective (down from $178.00) on shares of McKesson in a report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $177.50.

The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $30,162.68, a price-to-earnings ratio of 6.59, a P/E/G ratio of 1.33 and a beta of 1.23.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, February 1st. The company reported $3.41 EPS for the quarter, topping the Zacks’ consensus estimate of $2.92 by $0.49. McKesson had a return on equity of 22.98% and a net margin of 2.34%. The firm had revenue of $53.62 billion during the quarter, compared to analyst estimates of $51.98 billion. During the same period last year, the company earned $3.04 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. equities research analysts anticipate that McKesson Co. will post 12.71 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Wednesday, February 28th. McKesson’s payout ratio is currently 6.03%.

In other news, Chairman John H. Hammergren sold 65,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $160.00, for a total value of $10,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Vulcan Value Partners LLC boosted its stake in McKesson by 9.2% during the fourth quarter. Vulcan Value Partners LLC now owns 3,612,389 shares of the company’s stock valued at $563,352,000 after buying an additional 305,492 shares during the period. Bank of New York Mellon Corp boosted its stake in McKesson by 6.2% during the fourth quarter. Bank of New York Mellon Corp now owns 2,697,323 shares of the company’s stock valued at $420,648,000 after buying an additional 157,018 shares during the period. Pzena Investment Management LLC boosted its stake in McKesson by 5.8% during the fourth quarter. Pzena Investment Management LLC now owns 2,600,401 shares of the company’s stock valued at $405,533,000 after buying an additional 141,870 shares during the period. Alliancebernstein L.P. boosted its stake in McKesson by 1.5% during the fourth quarter. Alliancebernstein L.P. now owns 2,450,313 shares of the company’s stock valued at $382,126,000 after buying an additional 37,023 shares during the period. Finally, Geode Capital Management LLC boosted its stake in McKesson by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,270,865 shares of the company’s stock valued at $353,418,000 after buying an additional 12,150 shares during the period. 86.63% of the stock is owned by institutional investors.

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McKesson Company Profile

McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.

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