McKesson (NYSE:MCK) Releases Q2 Earnings Guidance

McKesson (NYSE:MCK) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $6.70-$7.00 for the period, compared to the consensus estimate of $7.39. McKesson also updated its FY25 guidance to $31.75-$32.55 EPS.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. Citigroup increased their price target on McKesson from $620.00 to $670.00 and gave the company a buy rating in a report on Friday, July 19th. Robert W. Baird decreased their price objective on McKesson from $694.00 to $671.00 and set an outperform rating on the stock in a report on Thursday, August 8th. Bank of America raised their target price on McKesson from $590.00 to $670.00 and gave the stock a buy rating in a research note on Tuesday, June 25th. JPMorgan Chase & Co. lifted their target price on McKesson from $656.00 to $661.00 and gave the company an overweight rating in a research report on Wednesday, August 21st. Finally, Barclays increased their price target on McKesson from $596.00 to $616.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $624.93.

McKesson Stock Down 2.1 %

Shares of McKesson stock opened at $504.17 on Friday. McKesson has a 52 week low of $412.64 and a 52 week high of $637.51. The firm’s 50 day moving average is $574.75 and its two-hundred day moving average is $557.64. The firm has a market capitalization of $65.51 billion, a P/E ratio of 22.53, a P/E/G ratio of 1.29 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.27 earnings per share. As a group, research analysts expect that McKesson will post 32.14 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is 12.69%.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the sale, the executive vice president now owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the transaction, the chief executive officer now directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 600 shares of McKesson stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the sale, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. Insiders have sold a total of 11,859 shares of company stock valued at $6,986,810 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

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.