SHP Wealth Management Takes $1.14 Million Position in McKesson Corporation $MCK

Key Points

• SHP Wealth Management initiated a new position in McKesson during the fourth quarter, buying 1,394 shares valued at about $1.14 million.
• McKesson’s latest quarterly results beat EPS expectations, with $11.69 per share versus the expected $11.56, while revenue rose 6% year over year. The company also reaffirmed FY2027 guidance of 43.8 to 44.6 EPS.
• Analyst sentiment remains constructive overall, with 14 Buy ratings and a consensus Moderate Buy rating, even as some recent insider selling by executives has pressured sentiment. McKesson also declared a quarterly dividend of $0.82 per share.

SHP Wealth Management bought a new position in McKesson Corporation (NYSE:MCK - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,394 shares of the company's stock, valued at approximately $1,143,000.

Other hedge funds also recently made changes to their positions in the company. GGM Financials LLC purchased a new stake in McKesson during the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of McKesson in the fourth quarter valued at about $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson in 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. Finally, Vermillion & White Wealth Management Group LLC bought a new position in shares of McKesson during the third quarter valued at about $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MCK shares. Wall Street Zen raised McKesson from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Raymond James Financial set a $970.00 price target on 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 on the stock in a research report on Monday, April 6th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their target price on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $960.53.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 14,382 shares in the company, valued at approximately $11,147,919.66. This represents a 37.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were 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 $482,848. This 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. Over the last three months, insiders sold 20,285 shares of company stock worth $15,546,137. Insiders own 0.08% of the company's stock.

McKesson Trading Down 0.1%

MCK opened at $750.23 on Friday. The company has a market cap of $87.84 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.24 and a beta of 0.31. The stock has a fifty day simple moving average of $787.94 and a two-hundred day simple moving average of $842.41. 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 announced its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts' consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analysts' expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts predict that McKesson Corporation will post 44.28 EPS 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 paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson's payout ratio is presently 8.53%.

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.

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