McKesson (NYSE:MCK) Posts Earnings Results

McKesson (NYSE:MCK) issued its quarterly earnings data on Wednesday. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57), Zacks reports. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%.

McKesson Price Performance

Shares of MCK stock traded up $2.05 during trading hours on Wednesday, reaching $605.37. The company had a trading volume of 1,352,177 shares, compared to its average volume of 719,278. The business has a fifty day simple moving average of $590.03 and a 200-day simple moving average of $562.26. McKesson has a 12 month low of $464.42 and a 12 month high of $637.51. The company has a market cap of $76.85 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 14.71%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MCK shares. Evercore ISI boosted their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $646.14.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by insiders.

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.