In yesterday’s Wall Street session, McKesson Corporation (NYSE:MCK) shares traded at $435.12, up 5.34% from the previous session.
16 analysts cover McKesson Corporation (NYSE:MCK), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $510.00 and a low of $427.00, we find $476.50. Given the previous closing price of $413.07, this indicates a potential upside of 15.36 percent. MCK stock price is now 7.35% away from the 50-day moving average and 15.08% away from the 200-day moving average. The market capitalization of the company currently stands at $59.35B.
The stock has received a hold rating from 3 analysts and a buy rating from 12. Brokers who have rated the stock have averaged $469.42 as their price target over the next twelve months.
With the price target of $420, Citigroup recently initiated with Buy rating for McKesson Corporation (NYSE: MCK).
In other news, TYLER BRIAN S., Chief Executive Officer sold 3,938 shares of the company’s stock on Jul 06. The stock was sold for $1,650,061 at an average price of $419.01. Upon completion of the transaction, the Chief Executive Officer now directly owns 125,776 shares in the company, valued at $54.73 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 29, Chief Executive Officer TYLER BRIAN S. sold 3,471 shares of the business’s stock. A total of $1,457,820 was realized by selling the stock at an average price of $420.00. This leaves the insider owning 129,714 shares of the company worth $56.44 million. Insiders disposed of 248,119 shares of company stock worth roughly $107.96 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MCK stock. A new stake in McKesson Corporation shares was purchased by CLEARBRIDGE INVESTMENTS, LLC during the first quarter worth $76,664,000. JUPITER ASSET MANAGEMENT LTD invested $47,749,000 in shares of MCK during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in McKesson Corporation valued at approximately $22,558,000. QUADRATURE CAPITAL LTD acquired a new stake in MCK for approximately $21,075,000. CERCANO MANAGEMENT LLC purchased a new stake in MCK valued at around $20,388,000 in the second quarter. In total, there are 1,720 active investors with 89.30% ownership of the company’s stock.
On Thursday morning McKesson Corporation (NYSE: MCK) stock kicked off with the opening price of $422.60. During the past 12 months, McKesson Corporation has had a low of $326.19 and a high of $429.75. According to the stock market information, the enterprise value for the company is $57.50B, which is based on a 17.35 price-to-earnings ratio, a 1.85 price-to-earnings-growth ratio, and a beta of 0.60. The fifty day moving average price for MCK is $406.09 and a two-hundred day moving average price translates $378.51 for the stock.
The latest earnings results from McKesson Corporation (NYSE: MCK) was released for Jun, 2023. The net profit margin was 1.30% and return on equity was -176.20% for MCK. The company reported revenue of $74.48 billion for the quarter, compared to $67.15 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.91 percent.
Moreover, the firm recently paid out its quarterly dividend on 10/02/2023. Investors who held shares on 09/01/2023 were paid a $0.62 dividend. On an annualized basis, this represents a $2.48 dividend and a 0.57% percent yield. There was an ex-dividend date of 08/31/2023 for this dividend. In terms of dividend payout ratio, MCK is presently at 8.00%.
McKesson Corporation(MCK) Company Profile
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. This segment also provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices; and consulting, outsourcing, technological, and other services, as well as sells financial, operational, and clinical solutions to pharmacies. The RxTS segment serves biopharma and life sciences partners and patients to address medication challenges for patients by working across healthcare; connects patients, pharmacies, providers, pharmacy benefit managers, health plans, and biopharma companies to deliver innovative solutions to help people get the medicine needed to live healthier lives; and provides prescription price transparency, benefit insight, dispensing support, third-party logistics, and wholesale distribution support services. The Medical-Surgical Solutions segment provides medical-surgical supply distribution, logistics, and other services to healthcare providers, including physician offices, surgery centers, nursing homes, hospital reference labs, and home health care agencies. The International segment offers distribution and services to wholesale, institutional, and retail customers in Europe and Canada. McKesson Corporation was founded in 1833 and is headquartered in Irving, Texas.
