Key Points
- McKesson EVP Thomas Rodgers sold 276 shares on January 5 at an average price of $816.18 for a total of $225,265.68, cutting his stake by 10.85% to 2,268 shares valued at about $1.85 million.
- The company reported quarterly EPS of $9.86, beating estimates of $8.84 while revenue was $103.15 billion (slightly below the $103.80 billion estimate) and revenue grew 10.2% year-over-year; analysts hold a consensus “Moderate Buy” with an average price target of $892.86.
- Shares opened at $826.64 with a market cap of $102.03 billion and a P/E of 25.73, and McKesson pays a quarterly dividend of $0.82 (annualized $3.28) for a yield of about 0.4% and a payout ratio near 10.2%.
McKesson Corporation (NYSE:MCK - Get Free Report) EVP Thomas Rodgers sold 276 shares of the firm's stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the sale, the executive vice president directly owned 2,268 shares of the company's stock, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
McKesson Price Performance
Shares of MCK opened at $826.64 on Wednesday. The company has a market capitalization of $102.03 billion, a P/E ratio of 25.73, a PEG ratio of 1.36 and a beta of 0.41. McKesson Corporation has a one year low of $570.51 and a one year high of $895.58. The business's 50 day simple moving average is $834.33 and its 200-day simple moving average is $760.92.
McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts' consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The firm had revenue of $103.15 billion during the quarter, compared to analysts' expectations of $103.80 billion. During the same period last year, the firm posted $7.07 EPS. The business's revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.
McKesson Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, December 1st. McKesson's payout ratio is currently 10.21%.
Analysts Set New Price Targets
A number of equities research analysts have commented on MCK shares. Evercore ISI reissued an "outperform" rating and set a $1,000.00 price objective on shares of McKesson in a report on Thursday, November 6th. Weiss Ratings reissued a "buy (a-)" rating on shares of McKesson in a report on Monday, December 29th. Jefferies Financial Group boosted their price objective on shares of McKesson from $820.00 to $900.00 and gave the stock a "buy" rating in a research report on Monday, October 13th. Leerink Partners increased their price objective on McKesson from $785.00 to $850.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Finally, UBS Group lifted their target price on McKesson from $920.00 to $980.00 and gave the company a "buy" rating in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $892.86.
Read Our Latest Report on MCK
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in MCK. Board of the Pension Protection Fund acquired a new stake in shares of McKesson during the fourth quarter worth $33,000. GAMMA Investing LLC grew its holdings in McKesson by 5.8% during the fourth quarter. GAMMA Investing LLC now owns 4,372 shares of the company's stock valued at $3,586,000 after purchasing an additional 241 shares during the period. Jacobs & Co. CA acquired a new position in McKesson during the fourth quarter valued at approximately $205,000. Triumph Capital Management bought a new stake in McKesson in the third quarter valued at approximately $179,000. Finally, AIA Group Ltd acquired a new stake in McKesson in the third quarter worth $322,000. Institutional investors and hedge funds own 85.07% of the company's stock.
About McKesson
(
Get Free Report)
McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.
The company's core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
