McKesson Corporation (NYSE:MCK) Short Interest Update

McKesson Corporation (NYSE:MCK) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 5,237,307 shares, a growth of 81.9% from the May 14th total of 2,879,151 shares. Based on an average daily trading volume, of 1,583,536 shares, the short-interest ratio is presently 3.3 days. Currently, 4.4% of the company’s stock are sold short.

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. UBS Group raised their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Evercore reissued an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Leerink Partners reissued an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $960.53.

McKesson Price Performance

MCK opened at $786.55 on Wednesday. The company’s 50-day moving average is $794.00 and its 200 day moving average is $844.72. McKesson has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The firm has a market capitalization of $92.09 billion, a P/E ratio of 20.45, a PEG ratio of 1.28 and a beta of 0.31.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter last year, the company posted $10.12 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts expect that McKesson will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is 8.53%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 4,929 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $763.00, for a total value of $3,760,827.00. Following the transaction, the chief executive officer directly owned 22,845 shares of the company’s stock, valued at approximately $17,430,735. This trade represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 11,822 shares of company stock valued at $8,986,212 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Institutional Trading of McKesson

Large investors have recently added to or reduced their stakes in the stock. GGM Financials LLC purchased a new stake in McKesson during the third quarter worth about $25,000. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson during the fourth quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in McKesson during the fourth quarter worth about $26,000. State of Wyoming purchased a new stake in McKesson during the second quarter worth about $29,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in McKesson during the third quarter worth about $33,000. 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.