McKesson Corporation (NYSE:MCK – Get Free Report) CEO Brian Tyler sold 8,463 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the transaction, the chief executive officer owned 14,382 shares in the company, valued at $11,147,919.66. This represents a 37.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
McKesson Stock Down 3.8%
Shares of NYSE MCK traded down $29.57 during trading on Thursday, reaching $750.23. 2,457,203 shares of the company traded hands, compared to its average volume of 910,624. The firm has a 50 day simple moving average of $792.46 and a 200-day simple moving average of $843.97. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The stock has a market capitalization of $87.84 billion, a PE ratio of 19.50, a P/E/G ratio of 1.29 and a beta of 0.31.
McKesson (NYSE:MCK – Get Free Report) last issued its 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. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter last year, the company posted $10.12 earnings per share. The firm’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. As a group, research analysts predict that McKesson Corporation will post 44.28 EPS for the current year.
McKesson Announces Dividend
Analyst Upgrades and Downgrades
A number of research firms have weighed in on MCK. Wells Fargo & Company lowered 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 shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Bank of America lowered their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Finally, Barclays reduced their target price on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Fourteen 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $960.53.
Get Our Latest Stock Analysis on MCK
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in MCK. Brighton Jones LLC increased its stake in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares in the last quarter. Caxton Associates LLP bought a new position in McKesson in the 1st quarter worth $233,000. Sivia Capital Partners LLC boosted its holdings in McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares during the period. Treasurer of the State of North Carolina increased its stake in 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 worth $42,958,000 after buying an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in McKesson in the 2nd quarter worth $166,000. 85.07% of the stock is currently owned by institutional investors.
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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