McKesson (NYSE:MCK) Director Sells $268,591.33 in Stock

McKesson Corporation (NYSE:MCK) Director Bradley Lerman sold 301 shares of the 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 sale was disclosed in a filing with the SEC, which can be accessed through this link.

McKesson Stock Performance

MCK opened at $858.59 on Friday. McKesson Corporation has a one year low of $661.69 and a one year high of $999.00. The stock’s fifty day moving average is $811.60 and its 200-day moving average is $842.63. The company has a market capitalization of $100.10 billion, a PE ratio of 22.98, a P/E/G ratio of 1.73 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion during the quarter, compared to analysts’ expectations 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 last year, the business posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts forecast that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is 8.78%.

Wall Street Analyst Weigh In

A number of analysts recently commented on MCK shares. JPMorgan Chase & Co. dropped their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Wells Fargo & Company raised their target price on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday. Barclays decreased their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. TD Cowen increased their price objective on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, UBS Group raised their price objective on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $977.00.

Institutional Investors Weigh In On McKesson

Hedge funds have recently made changes to their positions in the company. Horizon Investments LLC increased its position in McKesson by 125.4% during the fourth quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after acquiring an additional 4,828 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in McKesson by 18.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,526 shares of the company’s stock valued at $25,860,000 after purchasing an additional 4,964 shares during the period. Concurrent Investment Advisors LLC grew its position in McKesson by 62.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company’s stock worth $2,590,000 after purchasing an additional 1,219 shares during the last quarter. Adelphi Trust Co acquired a new stake in McKesson in the 4th quarter worth $1,177,000. Finally, Merit Financial Group LLC increased its holdings in shares of McKesson by 12.3% during the 4th quarter. Merit Financial Group LLC now owns 20,448 shares of the company’s stock worth $16,774,000 after purchasing an additional 2,238 shares during the period. 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.