McKesson Corporation $MCK Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA reduced its McKesson stake by 8.5% in the first quarter, selling 10,836 shares and leaving it with 116,739 shares valued at about $101.0 million.
• McKesson insiders have also been selling shares, including CEO Brian S. Tyler, who sold 8,463 shares in a pre-arranged Rule 10b5-1 transaction; insiders have sold 20,285 shares worth about $15.5 million over the past 90 days.
• Analysts remain broadly positive on the stock despite some lower price targets, with 14 Buy ratings and a consensus Moderate Buy rating; McKesson recently beat EPS estimates, raised its FY2027 guidance, and declared a quarterly dividend of $0.82 per share.

Pictet Asset Management Holding SA decreased its stake in McKesson Corporation (NYSE:MCK - Free Report) by 8.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,739 shares of the company's stock after selling 10,836 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.10% of McKesson worth $101,014,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MCK. Union Bancaire Privee UBP SA lifted its holdings in McKesson by 1,641.1% in the first quarter. Union Bancaire Privee UBP SA now owns 40,184 shares of the company's stock valued at $32,882,000 after acquiring an additional 37,876 shares during the period. Sterling Capital Management LLC grew its stake in shares of McKesson by 2.4% during the 1st quarter. Sterling Capital Management LLC now owns 15,522 shares of the company's stock worth $13,432,000 after purchasing an additional 363 shares during the period. Cambient Family Office LLC increased its holdings in shares of McKesson by 34.8% during the 1st quarter. Cambient Family Office LLC now owns 565 shares of the company's stock valued at $489,000 after purchasing an additional 146 shares in the last quarter. Value Partners Investments Inc. increased its holdings in shares of McKesson by 2.7% during the 1st quarter. Value Partners Investments Inc. now owns 3,630 shares of the company's stock valued at $3,138,000 after purchasing an additional 97 shares in the last quarter. Finally, Narus Financial Partners LLC lifted its stake in shares of McKesson by 11.1% in the 1st quarter. Narus Financial Partners LLC now owns 490 shares of the company's stock valued at $424,000 after purchasing an additional 49 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total transaction 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 approximately $11,147,919.66. This represents a 37.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company's stock, valued at approximately $482,848. This trade represents a 17.39% decrease in their position. 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 20,285 shares of company stock worth $15,546,137 over the last ninety days. Company insiders own 0.06% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a report on Wednesday, June 10th. Evercore reiterated an "outperform" rating on shares of McKesson in a research report on Thursday, March 5th. Bank of America cut their price objective on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a research report on Monday, April 6th. William Blair began coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an "outperform" rating on the stock. Finally, UBS Group increased their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $960.53.

McKesson Trading Up 0.1%

MCK stock opened at $764.38 on Monday. The firm has a 50-day moving average of $777.55 and a two-hundred day moving average of $840.59. The company has a market cap of $89.49 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 1.26 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts' consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.82 dividend. 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 currently 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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