Brian Tyler Sells 8,463 Shares of McKesson (NYSE:MCK) Stock

McKesson Corporation (NYSE:MCK) CEO Brian Tyler sold 8,463 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the transaction, the chief executive officer directly owned 14,382 shares in the company, valued at $11,147,919.66. This trade represents a 37.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Trading Down 0.1%

McKesson stock opened at $750.23 on Friday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock has a fifty day simple moving average of $787.94 and a two-hundred day simple moving average of $842.41. The firm has a market cap of $87.84 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.24 and a beta of 0.31.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the firm posted $10.12 earnings per share. McKesson’s 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. On average, equities research analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. 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 payout ratio is currently 8.53%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MCK. Wells Fargo & Company lowered their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Citigroup cut their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Finally, Barclays dropped their price target on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $960.53.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MCK. Vanguard Group Inc. raised its holdings in McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after acquiring an additional 73,109 shares during the period. State Street Corp boosted its stake in shares of McKesson by 0.5% in the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after acquiring an additional 29,660 shares during the period. Geode Capital Management LLC boosted 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 worth $2,333,520,000 after acquiring an additional 25,082 shares during the period. Franklin Resources Inc. grew its position in shares of McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after purchasing an additional 144,633 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of McKesson by 5.6% during the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock worth $1,850,001,000 after purchasing an additional 126,684 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Negative Sentiment: CEO Brian Tyler sold 8,463 shares at an average price of $775.13 under a pre-arranged 10b5-1 plan. Even though the sale was planned, insider selling can still weigh on investor sentiment. Article Title
• Neutral Sentiment: McKesson continues to get attention for its Medical-Surgical Solutions carve-out and new financing tied to that unit, which investors may be reassessing after a strong earnings report and upbeat FY2027 guidance. Article Title
• Neutral Sentiment: The company recently announced a fiscal 2024 fourth-quarter earnings release date, a routine event that does not appear to be a major market driver on its own. Article Title

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.