Leonteq Securities AG Sells 1,378 Shares of McKesson Corporation $MCK

Leonteq Securities AG reduced its stake in McKesson Corporation (NYSE:MCK) by 79.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 363 shares of the company’s stock after selling 1,378 shares during the period. Leonteq Securities AG’s holdings in McKesson were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson in the 4th quarter worth $25,000. Swiss RE Ltd. bought a new position in shares of McKesson during the fourth quarter valued at about $26,000. State of Wyoming bought a new position in shares of McKesson during the second quarter valued at about $29,000. Board of the Pension Protection Fund bought a new position in McKesson during the 4th quarter valued at approximately $33,000. Finally, Kingdom Financial Group LLC. bought a new stake in shares of McKesson in the 4th quarter worth approximately $33,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $786.17 on Monday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The business’s fifty day moving average is $769.23 and its 200 day moving average is $839.09. The stock has a market capitalization of $92.05 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last announced its quarterly earnings results 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 net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter last year, the firm posted $10.12 EPS. The business’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 expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a dividend of $0.82 per share. The ex-dividend date was Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is currently 8.53%.

Analyst Ratings Changes

MCK has been the topic of a number of research analyst reports. Bank of America reduced their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. JPMorgan Chase & Co. reduced their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Citigroup lowered their price target 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. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $960.53.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the sale, the executive vice president directly owned 3,090 shares of the company’s stock, valued at $2,351,768.10. The trade was a 43.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 20,285 shares of company stock valued at $15,546,137 over the last 90 days. 0.06% of the stock is owned by corporate insiders.

McKesson 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.