McKesson (NYSE:MCK) Sets New 1-Year High at $546.63

McKesson Co. (NYSE:MCK) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $546.63 and last traded at $545.75, with a volume of 979904 shares traded. The stock had previously closed at $533.41.

Analyst Ratings Changes

A number of research analysts have commented on MCK shares. Morgan Stanley boosted their price objective on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Argus boosted their price objective on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Citigroup lifted their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Mizuho lifted their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $536.71.

McKesson Price Performance

The stock has a market capitalization of $71.56 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. The company has a fifty day moving average of $530.66 and a two-hundred day moving average of $493.16.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. During the same period in the previous year, the firm posted $6.90 earnings per share. McKesson’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts predict that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s payout ratio is currently 11.24%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On McKesson

Several hedge funds and other institutional investors have recently made changes to their positions in MCK. OFI Invest Asset Management acquired a new stake in McKesson in the third quarter worth approximately $26,000. Sachetta LLC acquired a new stake in McKesson in the fourth quarter worth approximately $27,000. Register Financial Advisors LLC acquired a new stake in McKesson in the first quarter worth approximately $29,000. BKM Wealth Management LLC acquired a new stake in McKesson in the fourth quarter worth approximately $31,000. Finally, Richardson Financial Services Inc. bought a new position in shares of McKesson in the fourth quarter valued at $31,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

About McKesson

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.