McKesson Corporation (NYSE:MCK – Get Free Report) CEO Brian Tyler sold 4,929 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the sale, the chief executive officer directly owned 22,845 shares in the company, valued at $17,430,735. This trade represents a 17.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
McKesson Price Performance
NYSE MCK traded up $7.32 on Thursday, hitting $797.76. The company had a trading volume of 152,295 shares, compared to its average volume of 893,749. The company has a market capitalization of $95.89 billion, a PE ratio of 20.74, a PEG ratio of 1.29 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 company’s fifty day moving average price is $801.42 and its 200-day moving average price is $847.34.
McKesson (NYSE:MCK – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share 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 for the quarter, compared to analyst estimates of $101.35 billion. During the same period in the previous year, the business posted $10.12 earnings per share. McKesson’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.
McKesson Announces Dividend
Institutional Trading of McKesson
A number of hedge funds have recently added to or reduced their stakes in MCK. Norges Bank bought a new position in shares of McKesson in the 4th quarter worth about $1,651,137,000. Swedbank AB grew its position in shares of McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after buying an additional 263,189 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in McKesson by 4,300.3% during 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 acquiring an additional 209,814 shares during the period. SurgoCap Partners LP raised its stake in 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 acquiring an additional 184,106 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in McKesson by 73.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock worth $354,839,000 after acquiring an additional 183,590 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on MCK shares. William Blair assumed coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Citigroup cut their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Finally, Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $960.53.
Check Out Our Latest Analysis on McKesson
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.
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