Traders Buy Shares of McKesson (MCK) on Weakness

Investors purchased shares of McKesson Corporation (NYSE:MCK) on weakness during trading hours on Wednesday. $68.31 million flowed into the stock on the tick-up and $29.78 million flowed out of the stock on the tick-down, for a money net flow of $38.53 million into the stock. Of all stocks tracked, McKesson had the 21st highest net in-flow for the day. McKesson traded down ($0.22) for the day and closed at $150.47

Several analysts have weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of McKesson in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $168.00 target price on the stock. Jefferies Group set a $165.00 target price on shares of McKesson and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Cowen raised shares of McKesson from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $176.00 to $189.00 in a research report on Tuesday, October 10th. Needham & Company LLC set a $179.00 target price on shares of McKesson and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, BidaskClub downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a report on Saturday, August 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. McKesson currently has an average rating of “Buy” and an average target price of $174.31.

The firm has a market cap of $31,915.36, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.57 and a beta of 1.23. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.28 EPS for the quarter, beating the consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.94 EPS. equities analysts expect that McKesson Corporation will post 12.16 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, November 30th. McKesson’s dividend payout ratio (DPR) is presently 6.45%.

In related news, SVP Erin M. Lampert sold 900 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the sale, the chief executive officer now directly owns 165,000 shares in the company, valued at $25,391,850. The disclosure for this sale can be found here. Insiders have sold 949,900 shares of company stock worth $145,403,445 over the last three months. 1.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MCK. Meeder Asset Management Inc. boosted its holdings in McKesson by 1,314.9% during the second quarter. Meeder Asset Management Inc. now owns 15,069 shares of the company’s stock worth $2,479,000 after buying an additional 14,004 shares in the last quarter. Liberty Capital Management Inc. raised its position in McKesson by 0.4% during the second quarter. Liberty Capital Management Inc. now owns 9,744 shares of the company’s stock worth $1,610,000 after acquiring an additional 34 shares during the period. BTR Capital Management Inc. raised its position in McKesson by 4.3% during the second quarter. BTR Capital Management Inc. now owns 1,930 shares of the company’s stock worth $318,000 after acquiring an additional 80 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in McKesson by 478.8% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 35,077 shares of the company’s stock worth $5,772,000 after acquiring an additional 29,017 shares during the period. Finally, Ledyard National Bank raised its position in McKesson by 57.5% during the second quarter. Ledyard National Bank now owns 1,890 shares of the company’s stock worth $311,000 after acquiring an additional 690 shares during the period. 88.10% of the stock is currently owned by hedge funds and other institutional investors.

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About McKesson

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

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