McKesson Corp. (MCK) SVP Erin M. Lampert Sells 1,739 Shares
McKesson Corp. (NYSE:MCK) SVP Erin M. Lampert sold 1,739 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $165.94, for a total transaction of $288,569.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of McKesson Corp. (NYSE:MCK) opened at 165.67 on Thursday. McKesson Corp. has a 1-year low of $148.29 and a 1-year high of $202.20. The firm has a market capitalization of $37.39 billion, a P/E ratio of 17.20 and a beta of 0.93. The stock’s 50 day moving average is $176.82 and its 200 day moving average is $179.20.
McKesson Corp. (NYSE:MCK) last issued its earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.33 by $0.17. McKesson Corp. had a net margin of 1.15% and a return on equity of 31.62%. The business earned $49.73 billion during the quarter, compared to analysts’ expectations of $50.32 billion. During the same quarter in the prior year, the business posted $3.14 EPS. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities analysts predict that McKesson Corp. will post $13.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, August 30th. McKesson Corp.’s payout ratio is 11.64%.
Several hedge funds and other institutional investors have recently modified their holdings of MCK. Kelman Lazarov Inc. bought a new position in shares of McKesson Corp. during the second quarter valued at about $115,000. Welch Group LLC bought a new position in shares of McKesson Corp. during the second quarter valued at about $126,000. Seven Eight Capital LLC bought a new position in shares of McKesson Corp. during the first quarter valued at about $110,000. Baker Ellis Asset Management LLC boosted its position in shares of McKesson Corp. by 15.7% in the first quarter. Baker Ellis Asset Management LLC now owns 735 shares of the company’s stock valued at $116,000 after buying an additional 100 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. boosted its position in shares of McKesson Corp. by 14.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 816 shares of the company’s stock valued at $152,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 84.77% of the company’s stock.
A number of research firms recently weighed in on MCK. Zacks Investment Research lowered shares of McKesson Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, September 29th. Mizuho reduced their price objective on shares of McKesson Corp. from $197.00 to $183.00 and set a “neutral” rating on the stock in a research report on Monday, September 26th. Argus reissued a “hold” rating on shares of McKesson Corp. in a research report on Monday, September 19th. Vetr raised shares of McKesson Corp. from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 16th. Finally, Goldman Sachs Group Inc. lowered shares of McKesson Corp. from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $210.00 to $189.00 in a research report on Friday, September 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $201.17.
McKesson Corp. Company Profile
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.
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