Insider Selling: McKesson (NYSE:MCK) EVP Sells 3,550 Shares of Stock

McKesson Corporation (NYSE:MCK) EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michele Lau also recently made the following trade(s):

• On Monday, March 2nd, Michele Lau sold 2,725 shares of McKesson stock. The shares were sold at an average price of $990.00, for a total value of $2,697,750.00.

McKesson Stock Performance

Shares of MCK stock traded up $0.53 during trading hours on Wednesday, hitting $754.93. The company had a trading volume of 339,147 shares, compared to its average volume of 879,574. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm has a market capitalization of $90.75 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.14 and a beta of 0.35. The firm’s fifty day moving average is $830.95 and its 200 day moving average is $854.59.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the company posted $10.12 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts expect that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio is currently 8.53%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. GGM Financials LLC acquired a new position in McKesson during the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson during the 4th quarter worth $25,000. Swiss RE Ltd. acquired a new position in McKesson during the 4th quarter worth $26,000. State of Wyoming acquired a new position in McKesson during the 2nd quarter worth $29,000. Finally, Hopwood Financial Services Inc. acquired a new position in McKesson during the 3rd quarter worth $31,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MCK shares. Barclays upped their price objective on McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. TD Cowen boosted their target price on McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Wells Fargo & Company reduced their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price 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.