McKesson (NYSE:MCK) Director Bradley Lerman Sells 301 Shares of Stock

McKesson Corporation (NYSE:MCK) Director Bradley Lerman sold 301 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

McKesson Stock Performance

McKesson stock traded up $15.61 during trading on Tuesday, reaching $895.48. 464,854 shares of the company’s stock were exchanged, compared to its average volume of 951,974. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The firm has a market cap of $104.40 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.71 and a beta of 0.30. The company’s 50-day moving average is $803.51 and its two-hundred day moving average is $841.38.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate of $9.56 by $0.37. The company 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 firm’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts anticipate that McKesson Corporation will post 44.59 EPS for the current year.

McKesson Increases Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on MCK. Wells Fargo & Company increased their price objective on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday. TD Cowen boosted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, William Blair began coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. 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 MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $977.00.

Hedge Funds Weigh In On McKesson

Institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC increased its position in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP bought a new position in shares of McKesson during the first quarter worth about $233,000. Sivia Capital Partners LLC grew its stake in McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in McKesson by 0.9% in the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after purchasing an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in McKesson in the second quarter valued at about $166,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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.