McKesson (NYSE:MCK) Announces Earnings Results

McKesson (NYSE:MCK) posted its quarterly earnings results on Wednesday. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $0.18, Briefing.com reports. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.23 earnings per share.

McKesson Price Performance

Shares of NYSE MCK traded up $58.20 during midday trading on Thursday, reaching $607.51. The company’s stock had a trading volume of 2,465,151 shares, compared to its average volume of 820,315. The firm has a 50 day moving average price of $510.96 and a 200-day moving average price of $550.61. The stock has a market capitalization of $78.78 billion, a P/E ratio of 27.11, a PEG ratio of 1.23 and a beta of 0.44. McKesson has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s payout ratio is 12.70%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Wells Fargo & Company reduced their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday. Leerink Partners reduced their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Mizuho increased their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $625.64.

McKesson 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.