Braun Stacey Associates Inc. Sells 637 Shares of McKesson Corporation $MCK

Braun Stacey Associates Inc. decreased its stake in McKesson Corporation (NYSE:MCK) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,161 shares of the company’s stock after selling 637 shares during the quarter. Braun Stacey Associates Inc.’s holdings in McKesson were worth $26,568,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MCK. BlackRock Inc. purchased a new position in McKesson during the second quarter worth $8,156,743,000. State Street Corp increased its position in McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after acquiring an additional 29,660 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after acquiring an additional 25,082 shares during the period. Franklin Resources Inc. raised its stake in shares of McKesson by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after acquiring an additional 144,633 shares during the period. Finally, Norges Bank bought a new stake in shares of McKesson in the 4th quarter worth about $1,651,137,000. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,111 shares of company stock worth $18,011,274 over the last three months. Company insiders own 0.06% of the company’s stock.

More McKesson News

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Expansion into precision medicine: McKesson agreed to acquire privately held Precision Medicine Group for approximately $2.25 billion. Precision Medicine provides clinical research, laboratory testing and commercialization services for biotechnology and pharmaceutical companies, giving McKesson greater exposure to oncology, personalized medicine and specialty care. McKesson Doubles Down on Healthcare Growth With Precision Medicine Acquisition
• Positive Sentiment: Higher-growth service mix: The acquisition is expected to strengthen McKesson’s clinical research and commercialization capabilities and deepen relationships with biopharmaceutical companies and oncology practices. Investors may view the transaction as a way to reduce reliance on lower-margin pharmaceutical distribution and participate in growth tied to new drug development. What Does McKesson Gain From Its Push Into Oncology And Clinical Research?
• Neutral Sentiment: Portfolio repositioning amid workforce changes: Coverage noted layoffs at Rx Savings while McKesson plans the Precision Medicine acquisition. The combination highlights an ongoing reallocation of resources, although the near-term effect on earnings and integration costs remains uncertain. Amid Layoffs, McKesson Plans Acquisition
• Negative Sentiment: Cybersecurity incident disclosed: McKesson reported discovering a cybersecurity incident on August 25 after the ShinyHunters group claimed it had stolen patient data. The company’s investigation and any resulting regulatory, remediation, privacy or reputational costs could weigh on sentiment, although the ultimate scope and financial impact were not yet clear. McKesson Discloses Breach After ShinyHunters Claims Patient Data Theft

Analysts Set New Price Targets

MCK has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Barclays boosted their target price on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. TD Cowen upped their target price on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $973.44.

McKesson Trading Up 0.6%

NYSE MCK opened at $895.59 on Friday. The company’s 50-day moving average price is $833.31 and its 200-day moving average price is $844.13. The stock has a market cap of $104.42 billion, a PE ratio of 23.97, a PEG ratio of 1.75 and a beta of 0.30. McKesson Corporation has a 12 month low of $679.65 and a 12 month high of $999.00.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is presently 8.78%.

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.