McKesson (NYSE:MCK) Announces Earnings Results

McKesson (NYSE:MCK) posted its quarterly earnings data on Tuesday. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16), Briefing.com reports. The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.19 earnings per share. McKesson updated its FY25 guidance to $31.25-$32.05 EPS.

McKesson Stock Performance

Shares of NYSE:MCK traded down $5.82 during trading hours on Wednesday, reaching $539.93. The stock had a trading volume of 1,023,502 shares, compared to its average volume of 708,611. The firm’s 50 day moving average is $531.17 and its 200-day moving average is $493.81. The stock has a market capitalization of $70.95 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson has a 1 year low of $373.28 and a 1 year high of $566.01.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research reports. Morgan Stanley raised their price objective on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. UBS Group lifted their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday. Evercore ISI increased their price target on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday. Citigroup boosted their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Finally, SVB Leerink started coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective on the stock. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $565.64.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the SEC, which is available through this link. In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

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.