McKesson Corporation $MCK Shares Newly Bought by MBL Wealth LLC

MBL Wealth LLC acquired a new position in McKesson Corporation (NYSE:MCK) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 683 shares of the company’s stock, valued at approximately $583,000.

Several other hedge funds have also recently bought and sold shares of MCK. BlackRock Inc. acquired a new position in McKesson during the 2nd quarter valued at about $8,156,743,000. Bank of America Corp DE acquired a new stake in shares of McKesson in the second quarter valued at approximately $998,896,000. Legal & General Group Plc acquired a new stake in shares of McKesson in the second quarter valued at approximately $656,566,000. The Manufacturers Life Insurance Company acquired a new stake in shares of McKesson in the second quarter valued at approximately $651,462,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of McKesson during the second quarter valued at approximately $599,060,000. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MCK. UBS Group boosted their price objective on McKesson from $1,080.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, October 16th. Leerink Partners increased their price objective on McKesson from $1,030.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Wednesday, October 7th. Wells Fargo & Company raised their target price on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Morgan Stanley set a $977.00 target price on McKesson in a research note on Tuesday, October 6th. Finally, Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $997.12.

McKesson Price Performance

NYSE MCK opened at $1,000.53 on Friday. McKesson Corporation has a 12 month low of $723.68 and a 12 month high of $1,030.27. The firm has a market capitalization of $116.65 billion, a PE ratio of 26.77, a P/E/G ratio of 1.99 and a beta of 0.30. The company’s 50 day simple moving average is $911.33 and its 200 day simple moving average is $842.38.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts anticipate that McKesson Corporation will post 44.71 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 1st. McKesson’s payout ratio is currently 10.06%.

Insider Transactions at McKesson

In other news, EVP Francisco Fraga sold 800 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total value of $796,640.00. Following the completion of the sale, the executive vice president owned 5,423 shares in the company, valued at $5,400,223.40. This represents a 12.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the transaction, the chief accounting officer directly owned 521 shares of the company’s stock, valued at $464,445.45. This represents a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,212 shares of company stock valued at $1,164,182. Corporate insiders own 0.06% of the company’s stock.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.