McKesson (NYSE:MCK) Reaches New 12-Month High at $538.30

McKesson Co. (NYSE:MCK)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $538.30 and last traded at $537.51, with a volume of 108236 shares changing hands. The stock had previously closed at $532.55.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays started coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target for the company. Wells Fargo & Company started coverage on shares of McKesson in a research report on Thursday, December 14th. They issued an “equal weight” rating and a $502.00 price objective on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. SVB Leerink initiated coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective for the company. Finally, StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $522.21.

McKesson Price Performance

The firm has a market cap of $70.55 billion, a P/E ratio of 24.32, a PEG ratio of 1.64 and a beta of 0.44. The company’s 50-day moving average is $512.99 and its two-hundred day moving average is $475.15.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.90 EPS. On average, analysts expect that McKesson Co. will post 27.61 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated 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 owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of 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. Insiders have sold a total of 17,685 shares of company stock worth $8,646,498 over the last 90 days. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Covestor Ltd raised its stake in McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after buying an additional 34 shares during the last quarter. Garner Asset Management Corp bought a new position in McKesson in the fourth quarter worth approximately $25,000. OFI Invest Asset Management bought a new stake in shares of McKesson during the third quarter valued at approximately $26,000. Legacy Financial Group LLC acquired a new position in shares of McKesson during the third quarter worth approximately $27,000. Finally, Sachetta LLC bought a new position in shares of McKesson in the 4th quarter worth $27,000. Institutional investors and hedge funds own 85.07% 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.