McKesson Corporation (NYSE:MCK) Sees Significant Decrease in Short Interest

McKesson Corporation (NYSE:MCK) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 2,419,484 shares, a decrease of 33.0% from the July 30th total of 3,613,111 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 1,116,036 shares, the days-to-cover ratio is currently 2.2 days.

McKesson Trading Up 2.6%

NYSE MCK traded up $22.63 during trading on Tuesday, hitting $907.95. 654,684 shares of the company traded hands, compared to its average volume of 951,541. McKesson has a 12 month low of $682.35 and a 12 month high of $999.00. The business has a fifty day simple moving average of $836.11 and a 200 day simple moving average of $842.95. The company has a market capitalization of $105.86 billion, a P/E ratio of 24.30, a PEG ratio of 1.76 and a beta of 0.30.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. The company 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 was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities research analysts predict that McKesson will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 8.78%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MCK. Citigroup raised their target price on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Royal Bank Of Canada began coverage on McKesson in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price target for the company. UBS Group increased their price objective on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. TD Cowen lifted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Evercore reissued an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $973.44.

More McKesson News

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson’s recent operating momentum remains a supportive backdrop: its latest quarterly results exceeded analyst expectations for both earnings and revenue, with revenue rising year over year. That performance and the company’s FY2027 earnings guidance may be helping investors look past the immediate cybersecurity headlines.
• Neutral Sentiment: A retrospective analysis highlights McKesson’s strong long-term shareholder returns, but it is not a new business development or a direct catalyst for the stock. Here’s How Much a $1000 Investment in McKesson Made 10 Years Ago Would Be Worth Today
• Negative Sentiment: McKesson confirmed that it is investigating a cybersecurity incident involving the unauthorized exfiltration of certain data. The company has not disclosed the full scope of the affected information or the potential impact on operations. McKesson investigating cybersecurity incident involving exfiltration of certain data
• Negative Sentiment: The hacking group ShinyHunters claims it stole millions—or as many as 284 million—patient records and has threatened to release them. Those figures remain attacker claims rather than independently verified facts, but a confirmed breach involving sensitive healthcare data could lead to notification costs, lawsuits, regulatory penalties and customer concerns. McKesson confirms cybersecurity incident as hackers claim millions of patient records stolen
• Negative Sentiment: Reports that attackers are demanding approximately $55 million in ransom add financial and reputational uncertainty. Investors will be watching for McKesson’s assessment of the data compromised, business disruption, ransom policy and any changes to its outlook. McKesson Faces $55 Million Ransom Demand After Massive Data Breach

Insider Transactions at McKesson

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% 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. Over the last quarter, insiders sold 22,289 shares of company stock worth $17,406,854. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On McKesson

A number of institutional investors have recently modified their holdings of the company. California State Teachers Retirement System boosted its holdings in shares of McKesson by 73,780.3% during the 2nd quarter. California State Teachers Retirement System now owns 141,246,575 shares of the company’s stock worth $106,725,912,000 after buying an additional 141,055,392 shares during the period. BlackRock Inc. bought a new position in McKesson in the 2nd quarter worth $8,156,743,000. Norges Bank acquired a new position in McKesson during the 4th quarter worth $1,651,137,000. Bank of America Corp DE acquired a new position in McKesson during the 2nd quarter worth $998,896,000. Finally, Legal & General Group Plc bought a new stake in McKesson during the second quarter valued at about $656,566,000. Institutional investors 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.