Thomas Rodgers Sells 123 Shares of McKesson (NYSE:MCK) Stock

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 123 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $735.50, for a total value of $90,466.50. Following the sale, the executive vice president owned 2,967 shares of the company’s stock, valued at approximately $2,182,228.50. This trade represents a 3.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Stock Up 2.3%

Shares of NYSE:MCK opened at $756.73 on Friday. The business has a 50 day moving average price of $808.39 and a 200 day moving average price of $849.47. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The company has a market cap of $90.96 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.22 and a beta of 0.31.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Analysts anticipate that McKesson Corporation will post 44.27 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 8.53%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in McKesson during the fourth quarter worth about $1,651,137,000. Swedbank AB lifted its holdings in McKesson by 42.2% during the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after acquiring an additional 263,189 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in McKesson by 4,300.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 214,693 shares of the company’s stock worth $185,787,000 after acquiring an additional 209,814 shares in the last quarter. SurgoCap Partners LP increased its position in shares of McKesson by 68.7% during the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock worth $349,390,000 after acquiring an additional 184,106 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock worth $354,839,000 after acquiring an additional 183,590 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. Citigroup dropped their price target on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Wells Fargo & Company dropped their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Leerink Partners reaffirmed an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. UBS Group raised their price target on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Evercore reaffirmed an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $968.87.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.