McKesson (NYSE:MCK) EVP Thomas Rodgers Sells 276 Shares

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 276 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

McKesson Trading Up 0.2%

MCK stock opened at $826.64 on Wednesday. McKesson Corporation has a 1 year low of $570.51 and a 1 year high of $895.58. The company has a fifty day simple moving average of $834.33 and a 200 day simple moving average of $760.92. The firm has a market cap of $102.03 billion, a PE ratio of 25.73, a PEG ratio of 1.36 and a beta of 0.41.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the prior year, the business posted $7.07 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s payout ratio is 10.21%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Leerink Partners boosted their target price on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Weiss Ratings restated a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Barclays began coverage on McKesson in a research note on Monday, December 8th. They issued an “overweight” rating and a $960.00 price objective on the stock. Finally, Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $892.86.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. CW Advisors LLC grew its position in McKesson by 282.5% in the second quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock valued at $8,067,000 after acquiring an additional 8,130 shares during the period. Voya Investment Management LLC boosted its stake in shares of McKesson by 11.9% in the 3rd quarter. Voya Investment Management LLC now owns 598,880 shares of the company’s stock valued at $462,126,000 after purchasing an additional 63,621 shares in the last quarter. Investment Management Corp of Ontario boosted its stake in shares of McKesson by 19.0% in the 2nd quarter. Investment Management Corp of Ontario now owns 18,029 shares of the company’s stock valued at $13,211,000 after purchasing an additional 2,881 shares in the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of McKesson by 54.4% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,913 shares of the company’s stock worth $3,023,000 after purchasing an additional 1,378 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of McKesson by 5.7% during the 2nd quarter. Baird Financial Group Inc. now owns 38,219 shares of the company’s stock worth $28,006,000 after purchasing an additional 2,044 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.