Key Points
- McKesson EVP Thomas Rodgers sold 2,388 shares on May 26 at an average price of $761.09, totaling about $1.82 million. The sale was made under a pre-arranged 10b5-1 plan to cover tax withholding tied to vested equity awards.
- The company recently beat earnings expectations, reporting quarterly EPS of $11.69 versus analyst estimates of $11.56. Revenue reached $96.3 billion, up 6% year over year, though it came in below consensus.
- McKesson also declared a quarterly dividend of $0.82 per share, payable July 1 to shareholders of record on June 1. That works out to an annualized dividend of $3.28 and a yield of about 0.4%.
McKesson Corporation (NYSE:MCK - Get Free Report) EVP Thomas Rodgers sold 2,388 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares of the company's stock, valued at $2,351,768.10. This represents a 43.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
McKesson Stock Performance
McKesson stock opened at $755.86 on Thursday. The company has a 50 day moving average price of $827.20 and a 200 day moving average price of $853.88. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm has a market capitalization of $90.85 billion, a price-to-earnings ratio of 19.65, a P/E/G ratio of 1.12 and a beta of 0.35.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts' consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter last year, the business posted $10.12 EPS. The company's revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts forecast that McKesson Corporation will post 44.29 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. Shareholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. 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 (DPR) is 8.53%.
Institutional Investors Weigh In On McKesson
Several institutional investors and hedge funds have recently modified their holdings of MCK. Brighton Jones LLC lifted its stake in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of McKesson in the 1st quarter valued at $233,000. Sivia Capital Partners LLC lifted its stake in shares of McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock valued at $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock valued at $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of McKesson in the 2nd quarter valued at $166,000. Institutional investors and hedge funds own 85.07% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Bank of America decreased their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Barclays lifted their target price on shares of McKesson from $960.00 to $1,050.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Morgan Stanley reissued an "overweight" rating and set a $966.00 target price on shares of McKesson in a research note on Thursday, January 29th. William Blair assumed coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an "outperform" rating for the company. Finally, Weiss Ratings lowered shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 18th. Fourteen investment 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $968.87.
View Our Latest Report on MCK
About McKesson
(
Get Free Report)
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.
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