McKesson Corporation (NYSE:MCK - Get Free Report) CEO Brian Tyler sold 8,463 shares of the firm's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares of the company's stock, valued at approximately $4,697,081.64. This trade represents a 58.84% 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.
McKesson Price Performance
MCK stock opened at $817.78 on Thursday. The firm has a market cap of $95.75 billion, a PE ratio of 21.26, a P/E/G ratio of 1.33 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm has a 50 day simple moving average of $767.54 and a 200 day simple moving average of $838.96.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 44.28 earnings per share for the current year.
McKesson Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson's payout ratio is presently 8.53%.
Institutional Investors Weigh In On McKesson
Several hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in McKesson during the 4th quarter valued at about $1,651,137,000. Swedbank AB lifted its position in shares of McKesson by 42.2% in the fourth quarter. Swedbank AB now owns 886,283 shares of the company's stock worth $727,009,000 after purchasing an additional 263,189 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of McKesson by 4,300.3% in 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 purchasing an additional 209,814 shares in the last quarter. SurgoCap Partners LP boosted its holdings 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 purchasing an additional 184,106 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings 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 purchasing an additional 183,590 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Weiss Ratings cut McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Wall Street Zen lowered shares of McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Finally, 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 report on Monday, April 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and a consensus target price of $960.53.
Get Our Latest Analysis on McKesson
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
