McKesson (NYSE:MCK) Receives “Neutral” Rating from Robert W. Baird

Robert W. Baird reaffirmed their neutral rating on shares of McKesson (NYSE:MCK) in a research report sent to investors on Tuesday morning, MarketBeat reports. They currently have a $531.00 price objective on the stock, down from their prior price objective of $603.00.

A number of other analysts have also issued reports on the stock. Citigroup dropped their price target on shares of McKesson from $670.00 to $630.00 and set a buy rating for the company in a research note on Tuesday, September 10th. Argus boosted their target price on shares of McKesson from $570.00 to $670.00 and gave the company a buy rating in a research note on Monday, June 24th. Bank of America boosted their target price on shares of McKesson from $590.00 to $670.00 and gave the company a buy rating in a research note on Tuesday, June 25th. Leerink Partners lowered their target price on shares of McKesson from $670.00 to $665.00 and set an outperform rating for the company in a research note on Thursday, September 5th. Finally, Barclays boosted their target price on shares of McKesson from $596.00 to $616.00 and gave the company an overweight rating in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, McKesson has a consensus rating of Moderate Buy and a consensus target price of $613.36.

McKesson Trading Up 1.9 %

NYSE MCK opened at $488.35 on Tuesday. The company’s fifty day simple moving average is $552.67 and its 200-day simple moving average is $555.67. The stock has a market cap of $63.45 billion, a P/E ratio of 21.82, a PEG ratio of 1.18 and a beta of 0.44. McKesson has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.27 earnings per share. On average, research analysts expect that McKesson will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.58%. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is presently 12.69%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 11,259 shares of company stock valued at $6,635,492 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On McKesson

A number of institutional investors and hedge funds have recently bought and sold shares of MCK. Swedbank AB acquired a new stake in McKesson in the 1st quarter valued at about $669,326,000. TD Asset Management Inc lifted its holdings in McKesson by 202.8% in the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after acquiring an additional 403,312 shares during the last quarter. Bessemer Group Inc. lifted its holdings in McKesson by 3,621.7% in the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after acquiring an additional 340,007 shares during the last quarter. Bristol Gate Capital Partners Inc. acquired a new stake in McKesson in the 1st quarter valued at about $97,510,000. Finally, Third Point LLC acquired a new stake in McKesson in the 4th quarter valued at about $76,392,000. 85.07% of the stock is owned by institutional investors and hedge funds.

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.