Insider Selling: McKesson EVP Sells 15,000 Shares of Stock (MCK)
McKesson (NYSE:MCK) EVP Patrick Blake unloaded 15,000 shares of McKesson stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $190.00, for a total transaction of $2,850,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,887 shares in the company, valued at approximately $358,530. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
McKesson (NYSE:MCK) traded up 0.95% during mid-day trading on Tuesday, hitting $191.63. 1,795,490 shares of the company’s stock traded hands. McKesson has a 1-year low of $109.82 and a 1-year high of $190.26. The stock has a 50-day moving average of $174.7 and a 200-day moving average of $171.. The company has a market cap of $44.185 billion and a P/E ratio of 35.04. McKesson also was the target of unusually large options trading activity on Monday. Stock investors acquired 3,470 put options on the company. This represents an increase of 243% compared to the average daily volume of 1,011 put options.
McKesson (NYSE:MCK) last released its earnings data on Monday, May 12th. The company reported $2.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.40 by $0.15. The company had revenue of $38.14 billion for the quarter, compared to the consensus estimate of $35.89 billion. During the same quarter in the prior year, the company posted $1.45 earnings per share. The company’s quarterly revenue was up 25.0% on a year-over-year basis. Analysts expect that McKesson will post $10.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Shareholders of record on Monday, June 9th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Thursday, June 5th.
A number of research firms have recently commented on MCK. Analysts at Zacks reiterated a “neutral” rating on shares of McKesson in a research note on Thursday, May 15th. They now have a $187.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of McKesson in a research note on Tuesday, May 13th. They now have a $215.00 price target on the stock, up previously from $210.00. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $189.93.
McKesson Corporation delivers pharmaceuticals, medical supplies and healthcare information technologies.
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