McKesson Corporation (NYSE:MCK – Get Free Report) CEO Brian Tyler sold 8,463 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was 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 $4,697,081.64. This represents a 58.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
McKesson Trading Up 1.3%
NYSE:MCK traded up $10.45 during mid-day trading on Wednesday, hitting $817.78. The stock had a trading volume of 1,037,094 shares, compared to its average volume of 948,058. The company has a 50 day simple moving average of $767.75 and a 200-day simple moving average of $838.91. The stock has a market capitalization of $95.75 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 1.29 and a beta of 0.31. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00.
McKesson (NYSE:MCK – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. The company 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%. McKesson’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.
McKesson Announces Dividend
Institutional Investors Weigh In On McKesson
Institutional investors and hedge funds have recently bought and sold shares of the business. Cullen Investment Group LTD. boosted its holdings in shares of McKesson by 550.4% in the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after buying an additional 3,952 shares during the period. Pensionfund Sabic purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $1,887,000. Investment Research Partners LLC purchased a new stake in shares of McKesson in the 3rd quarter valued at approximately $1,303,000. Achmea Investment Management B.V. boosted its stake in McKesson by 7.5% in the 3rd quarter. Achmea Investment Management B.V. now owns 61,287 shares of the company’s stock worth $47,347,000 after purchasing an additional 4,260 shares during the period. Finally, Horizon Investments LLC grew its position in McKesson by 125.4% during the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after purchasing an additional 4,828 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently weighed in on MCK. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Citigroup lowered their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Barclays reduced their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. 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. Finally, William Blair initiated coverage on McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.
View Our Latest Research Report on McKesson
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.
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