McKesson Co. (NYSE:MCK) Short Interest Update

McKesson Co. (NYSE:MCK) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 4,110,000 shares, a decline of 13.3% from the September 30th total of 4,740,000 shares. Based on an average daily trading volume, of 1,720,000 shares, the short-interest ratio is currently 2.4 days. Currently, 2.3% of the shares of the stock are short sold.

Shares of NYSE:MCK traded up $3.67 during trading on Friday, hitting $148.32. 941,417 shares of the company were exchanged, compared to its average volume of 1,918,471. The business’s 50 day moving average is $139.58 and its 200-day moving average is $137.15. The company has a market capitalization of $26.25 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.12. The company has a quick ratio of 0.57, a current ratio of 1.01 and a debt-to-equity ratio of 1.36. McKesson has a 1-year low of $106.11 and a 1-year high of $153.30.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.60. The company had revenue of $57.62 billion during the quarter, compared to the consensus estimate of $55.06 billion. McKesson had a negative net margin of 0.29% and a positive return on equity of 32.77%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.60 earnings per share. As a group, sell-side analysts anticipate that McKesson will post 14.39 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.64 annualized dividend and a dividend yield of 1.11%. McKesson’s dividend payout ratio (DPR) is presently 12.09%.

MCK has been the subject of several research analyst reports. ValuEngine downgraded shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, August 30th. Bank of America set a $160.00 price objective on shares of McKesson and gave the company a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley boosted their price objective on shares of McKesson from $130.00 to $135.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 27th. TheStreet downgraded shares of McKesson from a “b” rating to a “c-” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research downgraded shares of McKesson from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. McKesson currently has a consensus rating of “Hold” and an average price target of $146.33.

In other McKesson news, SVP Sundeep G. Reddy sold 422 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $143.79, for a total transaction of $60,679.38. Following the completion of the transaction, the senior vice president now directly owns 1,268 shares in the company, valued at $182,325.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $135.00, for a total transaction of $810,000.00. Following the transaction, the chief executive officer now owns 18,192 shares of the company’s stock, valued at $2,455,920. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,197 shares of company stock valued at $1,422,929. 0.88% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the company. Gradient Investments LLC increased its holdings in shares of McKesson by 1,944.4% during the second quarter. Gradient Investments LLC now owns 184 shares of the company’s stock worth $25,000 after buying an additional 175 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in shares of McKesson in the third quarter worth $27,000. Usca Ria LLC bought a new stake in shares of McKesson in the third quarter worth $27,000. Prime Capital Investment Advisors LLC bought a new stake in shares of McKesson in the third quarter worth $27,000. Finally, Vista Private Wealth Partners. LLC bought a new stake in shares of McKesson in the third quarter worth $35,000. Institutional investors own 89.70% of the company’s stock.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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