Eastern Bank Sells 17,975 Shares of McKesson Corporation $MCK

Eastern Bank reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 98.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 322 shares of the company’s stock after selling 17,975 shares during the period. Eastern Bank’s holdings in McKesson were worth $243,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. VectorGlobal IAG Inc. purchased a new position in McKesson during the first quarter valued at approximately $9,196,000. Sapient Capital LLC boosted its position in shares of McKesson by 13.5% in the first quarter. Sapient Capital LLC now owns 638 shares of the company’s stock worth $554,000 after purchasing an additional 76 shares during the period. Parallel Advisors LLC increased its stake in shares of McKesson by 3.0% in the first quarter. Parallel Advisors LLC now owns 2,878 shares of the company’s stock worth $2,491,000 after purchasing an additional 83 shares in the last quarter. First Nebraska Trust Co bought a new stake in shares of McKesson during the 1st quarter valued at $723,000. Finally, Lavelle Capital LP bought a new stake in shares of McKesson during the 1st quarter valued at $398,000. 85.07% of the stock is currently owned by institutional investors.

McKesson News Roundup

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson delivered adjusted earnings of $9.93 per share, above analyst estimates ranging from $9.44 to $9.56 and up from $8.26 a year earlier. Revenue reached $105.38 billion, exceeding the $103.88 billion consensus estimate and rising 7.7% year over year. McKesson fiscal 2027 first-quarter earnings report
• Positive Sentiment: The company raised its fiscal 2027 adjusted EPS guidance to $44.20-$45.00. The midpoint is above the current analyst consensus of approximately $44.27, suggesting management expects continued earnings growth. McKesson Reports Fiscal 2027 First Quarter Results and Raises Full Year Adjusted EPS Guidance
• Positive Sentiment: Strong quarterly execution and the higher profit outlook reinforce the view that demand for McKesson’s pharmaceutical distribution and healthcare services remains resilient. Barron’s also identified McKesson among healthcare stocks with potential long-term upside as investor interest in the sector improves. Healthcare Stocks Have Been Forgotten

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,748 shares of company stock valued at $22,262,035 over the last 90 days. Insiders own 0.06% of the company’s stock.

McKesson Stock Up 5.2%

Shares of MCK stock opened at $874.01 on Thursday. The company’s fifty day simple moving average is $795.78 and its two-hundred day simple moving average is $840.54. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The stock has a market cap of $102.33 billion, a P/E ratio of 22.72, a PEG ratio of 1.37 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is presently 9.77%.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Barclays lowered their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. UBS Group increased their target price on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Citigroup lifted their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, William Blair initiated coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $962.67.

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.