Insider Selling: McKesson (NYSE:MCK) EVP Sells $513,953.73 in Stock

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 699 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Stock Up 2.6%

Shares of MCK opened at $776.51 on Friday. The stock has a market capitalization of $93.34 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.25 and a beta of 0.31. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The company has a 50 day moving average of $806.32 and a 200-day moving average of $848.96.

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

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given 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 payout ratio is currently 8.53%.

Institutional Investors Weigh In On McKesson

Hedge funds and other institutional investors have recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. acquired a new stake in shares of McKesson during the fourth quarter worth $26,000. GGM Financials LLC acquired a new stake in shares of McKesson during the third quarter worth $25,000. State of Wyoming acquired a new stake in shares of McKesson during the second quarter worth $29,000. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of McKesson during the third quarter worth $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. William Blair assumed coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Citigroup decreased their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Weiss Ratings cut shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Finally, Wells Fargo & Company decreased their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.