Insider Selling: McKesson (NYSE:MCK) EVP Sells 3,550 Shares of Stock

McKesson Corporation (NYSE:MCK) EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michele Lau also recently made the following trade(s):

• On Monday, March 2nd, Michele Lau sold 2,725 shares of McKesson stock. The stock was sold at an average price of $990.00, for a total value of $2,697,750.00.

McKesson Stock Up 0.1%

NYSE:MCK traded up $0.53 during trading hours on Wednesday, hitting $754.93. 339,147 shares of the stock were exchanged, compared to its average volume of 879,574. The company’s 50 day moving average is $830.95 and its two-hundred day moving average is $854.59. The company has a market capitalization of $90.75 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.14 and a beta of 0.35. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts expect that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid 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 8.53%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCK. Raymond James Financial set a $970.00 price target on McKesson in a research note on Thursday, March 5th. UBS Group increased their price target on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Wells Fargo & Company cut their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $968.87.

Institutional Trading of McKesson

Hedge funds have recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. grew its holdings in McKesson by 35.3% during the third quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock worth $3,931,000 after purchasing an additional 1,329 shares during the period. Cullen Investment Group LTD. grew its holdings in McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after purchasing an additional 3,952 shares during the period. Private Wealth Partners LLC grew its holdings in McKesson by 5.6% during the third quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock worth $24,598,000 after purchasing an additional 1,682 shares during the period. Envestnet Asset Management Inc. lifted its position in McKesson by 12.4% during the third quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock worth $255,438,000 after acquiring an additional 36,451 shares during the last quarter. Finally, AlphaQuest LLC lifted its position in McKesson by 91.2% during the third quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock worth $1,365,000 after acquiring an additional 843 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Company Profile

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.