McKesson (NYSE:MCK) Sets New 52-Week High at $151.03

McKesson Co. (NYSE:MCK) hit a new 52-week high during trading on Thursday . The company traded as high as $151.03 and last traded at $150.56, with a volume of 41296 shares trading hands. The stock had previously closed at $144.84.

A number of brokerages recently commented on MCK. Deutsche Bank began coverage on shares of McKesson in a research note on Thursday, September 12th. They issued a “hold” rating and a $155.00 price objective on the stock. TheStreet raised shares of McKesson from a “c” rating to a “b” rating in a research note on Wednesday, July 31st. Credit Suisse Group initiated coverage on shares of McKesson in a research note on Monday, July 22nd. They set a “neutral” rating and a $143.00 price target on the stock. Bank of America set a $160.00 price target on shares of McKesson and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley raised their price target on shares of McKesson from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. McKesson presently has an average rating of “Hold” and a consensus target price of $147.20.

The company has a market capitalization of $25.55 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.38 and a beta of 1.14. The company’s 50 day simple moving average is $139.46 and its 200-day simple moving average is $133.47. The company has a current ratio of 1.01, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.04 by $0.27. McKesson had a net margin of 0.27% and a return on equity of 30.73%. The company had revenue of $55.73 billion for the quarter, compared to analysts’ expectations of $54.03 billion. During the same period last year, the company earned $2.90 EPS. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. Sell-side analysts anticipate that McKesson Co. will post 14.39 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.41 per share. This is a boost from McKesson’s previous quarterly dividend of $0.39. This represents a $1.64 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio (DPR) is currently 12.09%.

In related news, EVP Lori A. Schechter sold 1,275 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $150.00, for a total value of $191,250.00. Following the sale, the executive vice president now directly owns 1,275 shares of the company’s stock, valued at $191,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $135.00, for a total transaction of $810,000.00. Following the completion of the sale, the chief executive officer now directly owns 18,192 shares in the company, valued at $2,455,920. The disclosure for this sale can be found here. Insiders sold 11,493 shares of company stock worth $1,612,988 over the last three months. Corporate insiders own 0.88% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Supplemental Annuity Collective Trust of NJ purchased a new position in McKesson in the third quarter valued at approximately $301,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in McKesson by 40.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 113,897 shares of the company’s stock valued at $15,565,000 after buying an additional 32,946 shares during the period. Coastal Investment Advisors Inc. raised its holdings in McKesson by 2,129.6% in the third quarter. Coastal Investment Advisors Inc. now owns 1,204 shares of the company’s stock valued at $166,000 after buying an additional 1,150 shares during the period. Zeke Capital Advisors LLC raised its holdings in McKesson by 11.5% in the third quarter. Zeke Capital Advisors LLC now owns 2,205 shares of the company’s stock valued at $301,000 after buying an additional 228 shares during the period. Finally, Oakbrook Investments LLC purchased a new position in McKesson in the third quarter valued at approximately $1,018,000. 86.63% of the stock is currently owned by institutional investors and hedge funds.

McKesson Company Profile (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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