McKesson (NYSE:MCK) Sets New 1-Year High at $546.63

McKesson Co. (NYSE:MCK)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $546.63 and last traded at $545.75, with a volume of 979904 shares trading hands. The stock had previously closed at $533.41.

Analyst Ratings Changes

A number of research firms have issued reports on MCK. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Argus boosted their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. UBS Group boosted their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, SVB Leerink began coverage on McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $536.71.

McKesson Trading Up 2.1 %

The stock has a market cap of $71.56 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.41 and a beta of 0.45. The company has a 50-day moving average price of $530.66 and a two-hundred day moving average price of $493.16.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter in the previous year, the company posted $6.90 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts forecast that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s payout ratio is 11.24%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On McKesson

Several institutional investors have recently added to or reduced their stakes in MCK. OFI Invest Asset Management purchased a new position in McKesson during the third quarter valued at approximately $26,000. Sachetta LLC purchased a new position in McKesson during the fourth quarter valued at approximately $27,000. Register Financial Advisors LLC purchased a new position in McKesson during the first quarter valued at approximately $29,000. BKM Wealth Management LLC purchased a new position in McKesson during the fourth quarter valued at approximately $31,000. Finally, Richardson Financial Services Inc. purchased a new position in McKesson during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.