McKesson Corporation (NYSE:MCK) – Investment analysts at Jefferies Group increased their FY2018 earnings per share estimates for McKesson Corporation in a research report issued to clients and investors on Friday. Jefferies Group analyst B. Tanquilut now forecasts that the company will earn $12.14 per share for the year, up from their prior forecast of $12.06. Jefferies Group has a “Hold” rating and a $165.00 price objective on the stock.
Several other brokerages have also issued reports on MCK. Vetr lowered McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target on the stock. in a research note on Monday, July 17th. Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Wednesday, July 12th. BidaskClub lowered McKesson Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Morgan Stanley lowered McKesson Corporation from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $184.00 to $172.00 in a research note on Thursday, September 14th. Finally, Needham & Company LLC raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a research note on Friday, September 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. McKesson Corporation currently has a consensus rating of “Hold” and a consensus price target of $174.32.
COPYRIGHT VIOLATION WARNING: “FY2018 EPS Estimates for McKesson Corporation (MCK) Increased by Analyst” was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this report on another site, it was illegally stolen and republished in violation of US and international copyright & trademark laws. The legal version of this report can be viewed at https://sportsperspectives.com/2017/11/01/fy2018-eps-estimates-for-mckesson-corporation-mck-increased-by-analyst.html. McKesson Corporation (NYSE:MCK) last announced its earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, topping the consensus estimate of $2.78 by $0.50. The firm had revenue of $52.06 billion for the quarter, compared to the consensus estimate of $51.69 billion. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the company posted $2.94 EPS.
Several large investors have recently added to or reduced their stakes in MCK. Alliancebernstein L.P. raised its holdings in shares of McKesson Corporation by 18.0% in the 1st quarter. Alliancebernstein L.P. now owns 2,319,256 shares of the company’s stock valued at $343,853,000 after acquiring an additional 354,590 shares in the last quarter. AXA raised its holdings in shares of McKesson Corporation by 92.2% in the 1st quarter. AXA now owns 117,464 shares of the company’s stock valued at $17,416,000 after acquiring an additional 56,364 shares in the last quarter. Kiltearn Partners LLP purchased a new stake in shares of McKesson Corporation in the 1st quarter valued at about $115,469,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of McKesson Corporation in the 1st quarter valued at about $655,000. Finally, BB&T Securities LLC raised its holdings in shares of McKesson Corporation by 121.7% in the 1st quarter. BB&T Securities LLC now owns 43,583 shares of the company’s stock valued at $6,461,000 after acquiring an additional 23,921 shares in the last quarter. 85.29% of the stock is currently owned by hedge funds and other institutional investors.
In other McKesson Corporation news, CEO John H. Hammergren sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total value of $18,772,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director M Christine Jacobs sold 1,083 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $145.43, for a total value of $157,500.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 950,983 shares of company stock valued at $145,560,946. 1.20% of the stock is owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a $0.34 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.36 annualized dividend and a yield of 0.99%. McKesson Corporation’s dividend payout ratio is currently 6.45%.
McKesson Corporation Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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