Forum Financial Management LP lowered its stake in shares of McKesson Corporation (NYSE:MCK – Free Report) by 62.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 560 shares of the company’s stock after selling 919 shares during the quarter. Forum Financial Management LP’s holdings in McKesson were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson in the fourth quarter valued at $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson during the fourth quarter worth about $26,000. State of Wyoming acquired a new stake in shares of McKesson during the second quarter worth about $29,000. Board of the Pension Protection Fund acquired a new stake in shares of McKesson during the fourth quarter worth about $33,000. Finally, Kingdom Financial Group LLC. purchased a new stake in shares of McKesson in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.
Analyst Ratings Changes
MCK has been the subject of a number of research analyst reports. UBS Group upped their target price on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Evercore reiterated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. JPMorgan Chase & Co. cut their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $960.53.
McKesson News Summary
Here are the key news stories impacting McKesson this week:
- Positive Sentiment: TempraMed expanded its partnership with McKesson Medical-Surgical to distribute its full portfolio across North America, adding temperature-controlled medication solutions to McKesson’s medical-surgical marketplace and potentially enhancing its healthcare provider offering. McKesson (MCK) Expands TempraMed Partnership Across North America For Full Portfolio Distribution
- Positive Sentiment: Momentum-focused commentary from Zacks characterized McKesson as a strong momentum stock, reinforcing a favorable technical and sentiment backdrop for the shares. Here’s Why McKesson (MCK) is a Strong Momentum Stock
- Positive Sentiment: Several bullish writeups highlighted McKesson’s valuation and earnings profile, suggesting some investors still view the stock as attractive despite recent volatility. Is McKesson Corporation (MCK) A Good Stock To Buy Now?
- Positive Sentiment: Another article pointed to three reasons to like McKesson, including its business quality and longer-term fundamentals, which may help support investor confidence. 3 Reasons We Love McKesson (MCK)
- Neutral Sentiment: Recent coverage also noted that McKesson had been trading lower in the prior session and remains below its recent highs, reflecting ongoing pressure from softer quarterly results and broader profit-taking. McKesson (MCK) Stock Falls Amid Market Uptick: What Investors Need to Know
Insider Activity
In other news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the transaction, the chief executive officer directly owned 14,382 shares in the company, valued at $11,147,919.66. The trade was a 37.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction dated Tuesday, May 26th. The stock was 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 $2,471,259.23. This represents a 52.23% 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 20,285 shares of company stock worth $15,546,137 over the last quarter. Insiders own 0.06% of the company’s stock.
McKesson Trading Up 1.3%
Shares of MCK stock opened at $757.38 on Wednesday. The company has a market capitalization of $88.67 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 1.23 and a beta of 0.31. The business’s 50 day moving average is $772.99 and its two-hundred day moving average is $839.87. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.
McKesson (NYSE:MCK – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping 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 business had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the prior year, the business earned $10.12 earnings per share. The company’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, equities analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.
McKesson Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given 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 yield of 0.4%. McKesson’s dividend payout ratio is presently 8.53%.
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.
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