Forum Financial Management LP Decreases Stake in McKesson Corporation $MCK

Forum Financial Management LP lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 62.1% during the first quarter, HoldingsChannel reports. The fund owned 560 shares of the company’s stock after selling 919 shares during the period. Forum Financial Management LP’s holdings in McKesson were worth $485,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson during the 4th quarter worth $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson in the 4th quarter valued at about $26,000. State of Wyoming purchased a new position in shares of McKesson in the 2nd quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of McKesson in the third quarter valued at about $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of McKesson in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MCK. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Wells Fargo & Company decreased their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Bank of America dropped their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

Key Stories Impacting McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: TempraMed expanded its partnership with McKesson Medical-Surgical to distribute its full portfolio across North America, adding temperature-controlled medication solutions to McKesson’s medical-surgical marketplace and potentially enhancing its healthcare provider offering. McKesson (MCK) Expands TempraMed Partnership Across North America For Full Portfolio Distribution
• Positive Sentiment: Momentum-focused commentary from Zacks characterized McKesson as a strong momentum stock, reinforcing a favorable technical and sentiment backdrop for the shares. Here’s Why McKesson (MCK) is a Strong Momentum Stock
• Positive Sentiment: Several bullish writeups highlighted McKesson’s valuation and earnings profile, suggesting some investors still view the stock as attractive despite recent volatility. Is McKesson Corporation (MCK) A Good Stock To Buy Now?
• Positive Sentiment: Another article pointed to three reasons to like McKesson, including its business quality and longer-term fundamentals, which may help support investor confidence. 3 Reasons We Love McKesson (MCK)
• Neutral Sentiment: Recent coverage also noted that McKesson had been trading lower in the prior session and remains below its recent highs, reflecting ongoing pressure from softer quarterly results and broader profit-taking. McKesson (MCK) Stock Falls Amid Market Uptick: What Investors Need to Know

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the transaction, the chief executive officer directly owned 14,382 shares of the company’s stock, valued at approximately $11,147,919.66. This trade represents a 37.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,285 shares of company stock worth $15,546,137 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

McKesson Trading Up 1.3%

NYSE:MCK opened at $757.38 on Wednesday. The company has a market capitalization of $88.67 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 1.23 and a beta of 0.31. The firm has a 50-day moving average price of $772.99 and a two-hundred day moving average price of $839.87. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts predict that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

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 given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s payout ratio is currently 8.53%.

McKesson Profile

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.