Insider Selling: McKesson (NYSE:MCK) EVP Sells 2,388 Shares of Stock

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 2,388 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the sale, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

McKesson Stock Up 0.1%

Shares of McKesson stock traded up $0.53 on Wednesday, hitting $754.93. The company’s stock had a trading volume of 339,147 shares, compared to its average volume of 879,574. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The firm has a fifty day moving average price of $830.95 and a 200-day moving average price of $854.59. The company has a market capitalization of $90.75 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.14 and a beta of 0.35.

McKesson (NYSE:MCK) last released 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. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period in the previous year, the firm earned $10.12 EPS. The business’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. As a group, analysts expect that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GGM Financials LLC acquired a new position in McKesson in the 3rd quarter valued at about $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of McKesson during the 4th quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in shares of McKesson during the 4th quarter valued at about $26,000. State of Wyoming acquired a new position in shares of McKesson during the 2nd quarter valued at about $29,000. Finally, Hopwood Financial Services Inc. acquired a new position in shares of McKesson during the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MCK shares. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Wells Fargo & Company cut their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Finally, Citigroup cut their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Fourteen equities 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $968.87.

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.