Insider Selling: McKesson (NYSE:MCK) CEO Sells 8,463 Shares

McKesson Corporation (NYSE:MCK) CEO Brian Tyler sold 8,463 shares of McKesson stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Stock Performance

Shares of NYSE MCK traded up $10.45 during mid-day trading on Wednesday, reaching $817.78. The company had a trading volume of 1,037,094 shares, compared to its average volume of 948,058. The company has a market capitalization of $95.75 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 1.29 and a beta of 0.31. The stock has a fifty day moving average of $767.75 and a two-hundred day moving average of $838.91. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating 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 firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same quarter 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. Sell-side analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Hedge Funds Weigh In On McKesson

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in McKesson during the fourth quarter worth about $1,651,137,000. Swedbank AB raised its holdings in shares of McKesson by 42.2% in the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after buying an additional 263,189 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of McKesson by 4,300.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 214,693 shares of the company’s stock worth $185,787,000 after buying an additional 209,814 shares during the period. SurgoCap Partners LP boosted its stake in McKesson by 68.7% in the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after buying an additional 184,106 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position 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 valued at $354,839,000 after acquiring an additional 183,590 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MCK shares. Bank of America dropped their price objective on 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 price objective on shares of McKesson in a report on Friday, May 8th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. reduced their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Barclays decreased their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.