McKesson Co. (MCK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of McKesson Co. (NYSE:MCK) have been assigned a consensus rating of “Hold” from the nineteen research firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $175.30.

Several research analysts have issued reports on MCK shares. Zacks Investment Research raised McKesson from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a report on Tuesday, February 20th. Bank of America started coverage on McKesson in a report on Tuesday, February 27th. They set a “buy” rating and a $179.00 price objective on the stock. ValuEngine downgraded McKesson from a “hold” rating to a “sell” rating in a report on Tuesday, May 22nd. Barclays started coverage on McKesson in a report on Thursday, March 8th. They set an “equal weight” rating and a $165.00 price objective on the stock. Finally, Leerink Swann set a $160.00 price objective on McKesson and gave the stock a “market perform” rating in a report on Tuesday, May 29th.

McKesson traded up $0.80, hitting $146.84, during trading hours on Tuesday, MarketBeat Ratings reports. 58,786 shares of the stock were exchanged, compared to its average volume of 1,974,647. McKesson has a twelve month low of $134.25 and a twelve month high of $178.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 1.01. The company has a market cap of $30.31 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 1.38 and a beta of 1.26.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 24th. The company reported $3.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.07). McKesson had a return on equity of 23.55% and a net margin of 0.03%. The firm had revenue of $51.63 billion for the quarter, compared to analyst estimates of $51.36 billion. During the same period in the prior year, the company posted $3.41 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. equities analysts predict that McKesson will post 13.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 1st will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, May 31st. McKesson’s dividend payout ratio is currently 10.78%.

In related news, SVP Erin M. Lampert sold 868 shares of the company’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $142.00, for a total value of $123,256.00. Following the completion of the sale, the senior vice president now owns 64 shares in the company, valued at approximately $9,088. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of McKesson by 1.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 85,203 shares of the company’s stock valued at $13,287,000 after buying an additional 1,537 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in McKesson during the 4th quarter worth about $311,000. LPL Financial LLC increased its holdings in McKesson by 7.6% during the 4th quarter. LPL Financial LLC now owns 39,623 shares of the company’s stock worth $6,179,000 after purchasing an additional 2,795 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in McKesson during the 4th quarter worth about $317,000. Finally, Element Capital Management LLC bought a new position in McKesson during the 1st quarter worth about $808,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes branded and generic pharmaceutical drugs, and other healthcare-related products; and provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

Analyst Recommendations for McKesson (NYSE:MCK)

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