McKesson Co. (NYSE:MCK) EVP Sells $392,895.36 in Stock

McKesson Co. (NYSE:MCK) EVP Leann B. Smith sold 704 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the sale, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

McKesson Trading Up 0.4 %

Shares of MCK stock opened at $561.11 on Friday. McKesson Co. has a twelve month low of $373.28 and a twelve month high of $566.16. The stock has a market cap of $72.94 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.28 and a beta of 0.45. The stock has a 50 day moving average of $540.65 and a 200 day moving average of $505.21.

McKesson (NYSE:MCK) last posted its 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). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same period last year, the firm earned $7.19 earnings per share. McKesson’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts predict that McKesson Co. will post 31.57 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, June 3rd. McKesson’s payout ratio is currently 11.08%.

Analysts Set New Price Targets

MCK has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Argus raised 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. UBS Group upped their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $571.47.

Institutional Investors Weigh In On McKesson

Large investors have recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in shares of McKesson in the first quarter valued at about $28,000. Register Financial Advisors LLC acquired a new position in McKesson in the 1st quarter valued at about $29,000. Sachetta LLC purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. increased its holdings in shares of McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after buying an additional 50 shares during the last quarter. Finally, Richardson Financial Services Inc. purchased a new stake in shares of McKesson during the 4th quarter valued at approximately $31,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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.