605,124 Shares in McKesson Corporation $MCK Purchased by Corient Private Wealth LP

Corient Private Wealth LP bought a new position in McKesson Corporation (NYSE:MCK) in the second quarter, HoldingsChannel reports. The fund bought 605,124 shares of the company’s stock, valued at approximately $98,797,000.

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of McKesson during the second quarter valued at approximately $8,156,743,000. Norges Bank bought a new stake in McKesson in the 4th quarter worth approximately $1,651,137,000. Bank of America Corp DE purchased a new stake in McKesson during the 2nd quarter valued at $998,896,000. Legal & General Group Plc purchased a new stake in McKesson during the 2nd quarter valued at $656,566,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of McKesson during the 2nd quarter valued at $651,462,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of McKesson stock opened at $898.06 on Thursday. McKesson Corporation has a one year low of $677.28 and a one year high of $999.00. The stock’s fifty day moving average is $827.60 and its 200 day moving average is $844.17. The stock has a market cap of $104.70 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.78 and a beta of 0.30.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the previous year, the business earned $8.26 earnings per share. McKesson’s quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts predict that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is presently 10.06%.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 23,111 shares of company stock valued at $18,011,274 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson’s agreement to acquire Precision Medicine Group would expand its clinical research and drug-commercialization capabilities. Management expects the business to complement its oncology operations and create additional growth opportunities in specialty pharmaceuticals. Reuters: McKesson to buy Precision Medicine Group
• Positive Sentiment: Short interest in McKesson fell 33% to about 2.42 million shares as of August 14, representing just 2.1% of shares outstanding and 2.2 days of average trading volume. The reduction suggests less bearish positioning and may provide technical support for the stock.
• Positive Sentiment: Analyst commentary remains constructive on McKesson’s specialty distribution, oncology and technology businesses. The company’s latest reported quarter also exceeded earnings and revenue expectations, supporting the view that its core operations remain resilient. Zacks: Why retain McKesson stock
• Neutral Sentiment: McKesson Ventures’ latest report highlighted artificial intelligence, enterprise demand and investor confidence as major forces reshaping pharmaceutical technology. This could create strategic opportunities, although the report does not announce a specific financial commitment or revenue impact for MCK. McKesson Ventures pharma technology report
• Negative Sentiment: The Precision Medicine transaction comes amid a McKesson reorganization and reported layoffs. Investors may be concerned about restructuring costs, execution risk and whether the acquisition will deliver sufficient returns to offset its $2.25 billion price tag. McKesson acquisition and reorganization
• Negative Sentiment: Longer-term risks remain from drug-pricing pressure and potential healthcare-policy changes. These concerns could limit margins even as McKesson expands into higher-growth specialty and biopharmaceutical services. Zacks McKesson risks

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. JPMorgan Chase & Co. cut 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. Citigroup boosted their price target on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Royal Bank Of Canada started coverage on shares of McKesson in a research report on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 price target for the company. Finally, Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a research note on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $973.44.

McKesson Company 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.