McKesson (NYSE:MCK) EVP Sells $2,701,869.50 in Stock

McKesson Corporation (NYSE:MCK) EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. 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.

Michele Lau also recently made the following trade(s):

• On Monday, March 2nd, Michele Lau sold 2,725 shares of McKesson stock. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00.

McKesson Stock Performance

MCK stock opened at $741.47 on Friday. The firm has a 50 day moving average price of $819.93 and a 200-day moving average price of $852.44. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The firm has a market capitalization of $89.13 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 1.13 and a beta of 0.35.

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

McKesson Announces Dividend

The company 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 dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 8.53%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James Financial set a $970.00 price objective on shares of McKesson in a report on Thursday, March 5th. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Bank of America lowered their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. TD Cowen increased their price objective on McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $968.87.

Institutional Investors Weigh In On McKesson

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares in the last quarter. Investment Research Partners LLC raised its position in shares of McKesson by 0.7% in the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after buying an additional 11 shares during the last quarter. IHT Wealth Management LLC raised its position in shares of McKesson by 0.9% in the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after buying an additional 11 shares during the last quarter. Obsidian Personal Planning Solutions LLC lifted its stake in shares of McKesson by 2.9% in the third quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock worth $346,000 after buying an additional 12 shares in the last quarter. Finally, LRI Investments LLC boosted its position in McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after acquiring an additional 12 shares during the last quarter. 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.