TheStreet upgraded shares of McKesson (NYSE:MCK) from a c rating to a b rating in a research note published on Wednesday, TheStreetRatingsTable reports.
Several other equities research analysts have also recently commented on the company. Bank of America set a $160.00 target price on McKesson and gave the company a buy rating in a research note on Wednesday. ValuEngine upgraded McKesson from a strong sell rating to a sell rating in a research note on Wednesday, May 8th. Zacks Investment Research cut McKesson from a hold rating to a sell rating in a research note on Thursday, May 2nd. Wolfe Research began coverage on McKesson in a research note on Tuesday, April 2nd. They issued an outperform rating on the stock. Finally, JPMorgan Chase & Co. began coverage on McKesson in a research note on Monday, July 22nd. They issued an overweight rating and a $164.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $147.27.
NYSE:MCK opened at $148.13 on Wednesday. McKesson has a fifty-two week low of $106.11 and a fifty-two week high of $149.99. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.02 and a quick ratio of 0.58. The company has a market cap of $25.90 billion, a PE ratio of 10.92, a PEG ratio of 1.42 and a beta of 1.13. The company’s 50-day simple moving average is $138.04.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.11%. This is a boost from McKesson’s previous quarterly dividend of $0.39. McKesson’s dividend payout ratio is currently 11.50%.
In other news, EVP Lori A. Schechter sold 2,766 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $133.59, for a total transaction of $369,509.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Britt J. Vitalone sold 832 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $129.17, for a total value of $107,469.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,174 shares of company stock worth $804,583. Company insiders own 0.88% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Alpha Quant Advisors LLC increased its holdings in shares of McKesson by 0.7% during the 1st quarter. Alpha Quant Advisors LLC now owns 10,818 shares of the company’s stock worth $1,270,000 after acquiring an additional 78 shares during the last quarter. Poehling Capital Management LLC increased its holdings in shares of McKesson by 1.3% during the 1st quarter. Poehling Capital Management LLC now owns 6,162 shares of the company’s stock worth $721,000 after acquiring an additional 80 shares during the last quarter. Adirondack Trust Co. increased its holdings in shares of McKesson by 22.4% during the 1st quarter. Adirondack Trust Co. now owns 480 shares of the company’s stock worth $57,000 after acquiring an additional 88 shares during the last quarter. Asset Dedication LLC increased its holdings in shares of McKesson by 35.2% during the 2nd quarter. Asset Dedication LLC now owns 346 shares of the company’s stock worth $46,000 after acquiring an additional 90 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC increased its holdings in shares of McKesson by 8.1% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,214 shares of the company’s stock worth $142,000 after acquiring an additional 91 shares during the last quarter. Institutional investors own 88.92% of the company’s stock.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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