Insider Selling: McKesson (NYSE:MCK) EVP Sells $90,466.50 in Stock

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 123 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $735.50, for a total value of $90,466.50. Following the completion of the transaction, the executive vice president owned 2,967 shares of the company’s stock, valued at $2,182,228.50. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Trading Up 2.6%

MCK opened at $776.51 on Friday. The stock has a 50-day moving average price of $806.32 and a 200-day moving average price of $848.96. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The stock has a market capitalization of $93.34 billion, a P/E ratio of 20.18, a PEG ratio of 1.25 and a beta of 0.31.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same period in the prior year, the business earned $10.12 EPS. The company’s revenue for the quarter 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, equities research analysts predict that McKesson Corporation will post 44.27 EPS for the current year.

McKesson Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Raymond James Financial set a $970.00 target price on McKesson in a research note on Thursday, March 5th. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Weiss Ratings lowered McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Finally, Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $968.87.

Hedge Funds Weigh In On McKesson

A number of hedge funds have recently modified their holdings of MCK. Brighton Jones LLC raised its position in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP bought a new position in McKesson during the 1st quarter valued at approximately $233,000. Sivia Capital Partners LLC raised its position in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina raised its position in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in McKesson during the 2nd quarter valued at approximately $166,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.