Traders Buy Shares of McKesson (MCK) on Weakness

Investors purchased shares of McKesson Co. (NYSE:MCK) on weakness during trading on Thursday. $49.21 million flowed into the stock on the tick-up and $30.54 million flowed out of the stock on the tick-down, for a money net flow of $18.67 million into the stock. Of all companies tracked, McKesson had the 32nd highest net in-flow for the day. McKesson traded down ($0.74) for the day and closed at $121.81

Several equities analysts have commented on MCK shares. Jefferies Financial Group reissued a “buy” rating and set a $160.00 target price on shares of McKesson in a research report on Friday, July 27th. Barclays dropped their target price on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Friday, October 26th. Royal Bank of Canada set a $155.00 price target on shares of McKesson and gave the stock a “hold” rating in a research note on Friday, October 26th. Mizuho restated a “hold” rating and set a $133.00 price target on shares of McKesson in a research note on Sunday, August 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $150.26.

The company has a current ratio of 0.99, a quick ratio of 0.56 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $23.80 billion, a PE ratio of 9.09, a P/E/G ratio of 1.38 and a beta of 1.05.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.28 by $0.32. McKesson had a net margin of 0.06% and a return on equity of 26.55%. The company had revenue of $53.08 billion during the quarter, compared to analyst estimates of $53.56 billion. On average, analysts forecast that McKesson Co. will post 13.41 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid a $0.39 dividend. The ex-dividend date is Friday, November 30th. This represents a $1.56 dividend on an annualized basis and a yield of 1.29%. McKesson’s dividend payout ratio is 12.36%.

In related news, Director N Anthony Coles sold 1,350 shares of McKesson stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $128.69, for a total value of $173,731.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in MCK. Fort L.P. purchased a new position in McKesson in the 2nd quarter valued at approximately $110,000. Flagship Harbor Advisors LLC purchased a new position in McKesson in the 2nd quarter valued at approximately $118,000. Reilly Financial Advisors LLC grew its stake in McKesson by 506.8% in the 3rd quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock valued at $119,000 after buying an additional 750 shares in the last quarter. Bray Capital Advisors purchased a new position in McKesson in the 3rd quarter valued at approximately $123,000. Finally, FNY Investment Advisers LLC grew its stake in McKesson by 88.6% in the 3rd quarter. FNY Investment Advisers LLC now owns 1,120 shares of the company’s stock valued at $148,000 after buying an additional 526 shares in the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.

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About McKesson (NYSE:MCK)

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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