McKesson (NYSE:MCK) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

McKesson (NYSE:MCK) released its earnings results on Wednesday. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.89 by $0.18, Briefing.com reports. The firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.23 earnings per share.

McKesson Trading Up 10.6 %

MCK stock traded up $58.20 during mid-day trading on Thursday, reaching $607.51. The company’s stock had a trading volume of 2,463,476 shares, compared to its average volume of 820,307. The company has a market cap of $78.78 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44. McKesson has a 12 month low of $431.35 and a 12 month high of $637.51. The business’s 50 day moving average price is $510.96 and its 200 day moving average price is $550.61.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s payout ratio is 12.70%.

Wall Street Analyst Weigh In

MCK has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Mizuho increased their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $531.00 to $688.00 in a research note on Thursday. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Leerink Partners cut their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $625.64.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

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.