McKesson (NYSE:MCK) CEO Brian Tyler Sells 8,463 Shares of Stock

McKesson Corporation (NYSE:MCK) 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 completion of the transaction, the chief executive officer directly owned 14,382 shares in the company, valued at $11,147,919.66. The trade was a 37.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Price Performance

Shares of MCK opened at $750.23 on Friday. The firm has a 50-day simple moving average of $790.35 and a two-hundred day simple moving average of $843.06. The stock has a market cap of $87.84 billion, a PE ratio of 19.50, a P/E/G ratio of 1.28 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. The firm 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%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Institutional Investors Weigh In On McKesson

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GGM Financials LLC acquired a new stake in McKesson during the third quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of McKesson in the 4th quarter valued at $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson in the 4th quarter valued at $26,000. State of Wyoming purchased a new position in shares of McKesson in the 2nd quarter valued at $29,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in McKesson during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of several recent research reports. Leerink Partners reissued an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Bank of America cut their target price 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. Wells Fargo & Company decreased their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. UBS Group boosted their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, 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. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

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.