McKesson (NYSE:MCK) Announces Earnings Results

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

McKesson Stock Up 10.6 %

Shares of NYSE MCK traded up $58.20 during trading hours on Thursday, reaching $607.51. 2,463,476 shares of the stock traded hands, compared to its average volume of 820,307. McKesson has a 52-week low of $431.35 and a 52-week high of $637.51. The company’s 50-day simple moving average is $510.96 and its two-hundred day simple moving average is $550.61. The company has a market capitalization of $78.78 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 dividend payout ratio (DPR) is currently 12.70%.

Wall Street Analyst Weigh In

A number of analysts recently commented on MCK shares. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Mizuho raised their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday. Evercore ISI lifted their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Leerink Partners lowered their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $625.64.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% 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.