McKesson (NYSE:MCK) Announces Earnings Results

McKesson (NYSE:MCK) posted its quarterly earnings data on Wednesday. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.89 by $0.18, Briefing.com reports. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.23 earnings per share.

McKesson Price Performance

Shares of McKesson stock opened at $607.51 on Friday. The stock has a market capitalization of $78.78 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44. The business has a 50-day moving average of $510.96 and a 200 day moving average of $550.61. McKesson has a 12 month low of $431.35 and a 12 month high of $637.51.

McKesson Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Mizuho boosted their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. JPMorgan Chase & Co. raised their price target on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Barclays increased their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $625.64.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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.