6,270 McKesson Corporation $MCK Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd trimmed its position in McKesson Corporation (NYSE:MCK) by 13.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 38,723 shares of the company’s stock after selling 6,270 shares during the period. Ninety One UK Ltd’s holdings in McKesson were worth $33,062,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nvwm LLC increased its stake in McKesson by 933.3% in the 3rd quarter. Nvwm LLC now owns 31 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the period. Delos Wealth Advisors LLC acquired a new stake in shares of McKesson in the 2nd quarter worth $27,000. GK Wealth Management LLC acquired a new stake in shares of McKesson in the 3rd quarter worth $38,000. Clearstead Trust LLC acquired a new stake in shares of McKesson in the 2nd quarter worth $37,000. Finally, Security National Bank of SO Dak purchased a new stake in shares of McKesson in the second quarter valued at about $39,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Also, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The disclosure for this sale is available in the SEC filing. Insiders own 0.06% of the company’s stock.

McKesson Trading Up 2.1%

Shares of McKesson stock opened at $997.40 on Friday. The company has a 50-day moving average of $894.99 and a two-hundred day moving average of $836.32. McKesson Corporation has a 12-month low of $723.68 and a 12-month high of $1,003.21. The stock has a market cap of $116.29 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 1.94 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, sell-side analysts forecast that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 1st were issued a dividend of $0.94 per share. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 1st. McKesson’s payout ratio is presently 10.06%.

McKesson News Summary

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Leerink raised its price target to $1,070, implying additional upside from recent levels and reinforcing the bullish analyst outlook. Leerink lifts target for McKesson stock to USD 1,070
• Positive Sentiment: Jim Cramer called McKesson a health-care “winner,” adding favorable high-profile commentary as the stock continues to outperform the broader market. Jim Cramer: This Health Care Stock Is A Winner
• Positive Sentiment: McKesson approached $1,000 after setting a fresh 52-week high near $998.64, signaling strong momentum and sustained demand for the shares. McKesson Approaches $1,000 After Setting a New 52-Week High
• Positive Sentiment: Separate coverage reported an all-time high around $1,000.97, while another report highlighted a $1.4 billion McKesson commitment, adding to the company’s favorable news flow. McKesson stock hits all-time high
• Neutral Sentiment: The rally follows McKesson’s latest quarterly results, which exceeded EPS and revenue expectations and showed 7.7% year-over-year revenue growth. However, the stock is near its 12-month high, which may increase sensitivity to profit-taking.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCK. UBS Group boosted their price target on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley set a $977.00 price objective on shares of McKesson in a research report on Tuesday, October 6th. Bank of America raised their price objective on shares of McKesson from $950.00 to $1,050.00 in a research report on Thursday, August 6th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $845.00 price objective on shares of McKesson in a report on Monday, September 14th. Finally, Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $983.29.

About McKesson

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.