McKesson (NYSE:MCK – Get Rating) issued an update on its FY 2023 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $22.90-$23.60 for the period, compared to the consensus estimate of $23.10. The company issued revenue guidance of -.
McKesson stock traded up $6.71 during mid-day trading on Tuesday, reaching $334.54. 28,125 shares of the company were exchanged, compared to its average volume of 1,210,411. The business has a fifty day moving average of $311.87 and a 200 day moving average of $268.98. The firm has a market cap of $48.63 billion, a P/E ratio of 46.48, a PEG ratio of 1.48 and a beta of 0.67. McKesson has a 12-month low of $184.43 and a 12-month high of $339.94.
McKesson (NYSE:MCK – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $5.83 earnings per share for the quarter, missing analysts’ consensus estimates of $6.06 by ($0.23). The business had revenue of $66.10 billion during the quarter, compared to analyst estimates of $63.82 billion. McKesson had a negative return on equity of 538.84% and a net margin of 0.42%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $5.05 EPS. As a group, equities research analysts predict that McKesson will post 23.2 EPS for the current fiscal year.
A number of equities analysts have weighed in on the company. UBS Group lifted their price objective on McKesson from $245.00 to $303.00 and gave the company a buy rating in a research note on Tuesday, February 8th. Morgan Stanley lifted their price target on McKesson from $292.00 to $370.00 and gave the company an overweight rating in a research note on Tuesday, April 12th. StockNews.com assumed coverage on McKesson in a research note on Thursday, March 31st. They issued a strong-buy rating for the company. Deutsche Bank Aktiengesellschaft lifted their price target on McKesson from $270.00 to $343.00 in a research note on Tuesday, May 10th. Finally, Cowen lifted their price target on McKesson from $325.00 to $361.00 and gave the company an outperform rating in a research note on Monday, April 18th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $320.08.
In related news, CEO Brian S. Tyler sold 5,438 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $319.36, for a total value of $1,736,679.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nancy Flores sold 3,298 shares of the company’s stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $311.09, for a total value of $1,025,974.82. Following the completion of the transaction, the executive vice president now owns 5,440 shares in the company, valued at $1,692,329.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,728 shares of company stock worth $10,952,719. Insiders own 0.28% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd lifted its holdings in McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. Worth Asset Management LLC acquired a new position in McKesson during the first quarter worth $41,000. KB Financial Partners LLC acquired a new position in McKesson during the fourth quarter worth $37,000. EverSource Wealth Advisors LLC acquired a new position in McKesson during the fourth quarter worth $37,000. Finally, Fairfield Bush & CO. acquired a new position in McKesson during the first quarter worth $46,000. Hedge funds and other institutional investors own 85.45% of the company’s stock.
McKesson Company Profile (Get Rating)
McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).
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