Thomas Rodgers Sells 123 Shares of McKesson (NYSE:MCK) Stock

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 123 shares of McKesson stock in a transaction on Monday, June 1st. The stock was sold at an average price of $735.50, for a total value of $90,466.50. Following the completion of the sale, the executive vice president directly owned 2,967 shares of the company’s stock, valued at $2,182,228.50. The trade was a 3.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Trading Up 0.1%

NYSE MCK traded up $0.79 on Wednesday, hitting $737.57. 276,296 shares of the company traded hands, compared to its average volume of 899,570. The company has a market capitalization of $88.66 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 1.10 and a beta of 0.31. The business’s 50 day moving average price is $816.69 and its 200-day moving average price is $851.56. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts predict that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. UBS Group increased their price objective on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. William Blair initiated coverage on McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a report on Thursday, March 5th. Finally, JPMorgan Chase & Co. decreased their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $968.87.

Institutional Trading of McKesson

Several hedge funds and other institutional investors have recently made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. acquired a new stake in McKesson during the 4th quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in McKesson during the 4th quarter worth about $26,000. GGM Financials LLC acquired a new stake in McKesson during the 3rd quarter worth about $25,000. State of Wyoming acquired a new stake in McKesson during the 2nd quarter worth about $29,000. Finally, Hopwood Financial Services Inc. acquired a new stake in McKesson during the 3rd quarter worth about $31,000. 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.