McKesson (NYSE:MCK) had its price objective reduced by Cfra from $179.00 to $171.00 in a research note published on Wednesday, BenzingaRatingsTable reports. Cfra currently has a buy rating on the stock.
Other analysts have also issued research reports about the stock. TheStreet upgraded shares of McKesson from a c+ rating to a b- rating in a research report on Friday, February 21st. UBS Group upgraded shares of McKesson from a neutral rating to a buy rating and raised their target price for the company from $151.00 to $160.00 in a research report on Friday, May 15th. Goldman Sachs Group upgraded shares of McKesson from a neutral rating to a buy rating and raised their target price for the company from $173.00 to $174.00 in a research report on Wednesday, March 18th. Robert W. Baird upgraded shares of McKesson from a neutral rating to an outperform rating and raised their target price for the company from $164.00 to $197.00 in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of McKesson from $186.00 to $187.00 and gave the stock an overweight rating in a report on Wednesday, March 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $168.50.
NYSE:MCK traded up $3.60 during mid-day trading on Wednesday, reaching $149.42. The stock had a trading volume of 902,930 shares, compared to its average volume of 1,730,228. The stock has a 50-day simple moving average of $136.14 and a two-hundred day simple moving average of $142.81. The stock has a market capitalization of $25.80 billion, a PE ratio of 29.13, a P/E/G ratio of 1.60 and a beta of 0.82. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.99 and a quick ratio of 0.56. McKesson has a 12 month low of $112.60 and a 12 month high of $172.18.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.64 annualized dividend and a yield of 1.10%. McKesson’s payout ratio is 10.97%.
In related news, CEO Brian S. Tyler sold 4,063 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $135.00, for a total value of $548,505.00. Following the transaction, the chief executive officer now owns 16,255 shares in the company, valued at $2,194,425. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders sold 8,187 shares of company stock worth $1,064,057. 0.88% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MCK. Reilly Financial Advisors LLC increased its stake in McKesson by 198.5% in the first quarter. Reilly Financial Advisors LLC now owns 200 shares of the company’s stock valued at $27,000 after purchasing an additional 133 shares in the last quarter. Trust Co. of Vermont increased its stake in McKesson by 254.2% in the first quarter. Trust Co. of Vermont now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Keebeck Wealth Management LLC bought a new stake in McKesson in the fourth quarter valued at $29,000. Penserra Capital Management LLC increased its stake in McKesson by 55.6% in the fourth quarter. Penserra Capital Management LLC now owns 210 shares of the company’s stock valued at $30,000 after purchasing an additional 75 shares in the last quarter. Finally, Fred Alger Management LLC bought a new stake in McKesson in the fourth quarter valued at $32,000. 84.96% of the stock is owned by hedge funds and other institutional investors.
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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