McKesson (NYSE:MCK) Director Sells $268,591.33 in Stock

Key Points

• McKesson director Bradley Lerman sold 301 shares at an average price of $892.33, generating $268,591.33 in proceeds.
• McKesson reported quarterly EPS of $9.93, beating estimates by $0.37, while revenue rose 7.7% year over year to $105.38 billion. Shares traded near $895.48, up 1.8%.
• The company increased its quarterly dividend from $0.82 to $0.94 per share; analysts maintain a “Moderate Buy” consensus with an average price target of $977.

McKesson Corporation (NYSE:MCK - Get Free Report) Director Bradley Lerman sold 301 shares of the business's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

McKesson Stock Up 1.8%

Shares of NYSE MCK traded up $15.61 during midday trading on Tuesday, hitting $895.48. The company had a trading volume of 464,854 shares, compared to its average volume of 951,974. The firm has a market capitalization of $104.40 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The business has a 50-day simple moving average of $803.51 and a two-hundred day simple moving average of $841.38.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities analysts forecast that McKesson Corporation will post 44.59 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a positive change from McKesson's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson's dividend payout ratio is currently 8.78%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research reports. TD Cowen increased their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a research report on Thursday, August 6th. Wells Fargo & Company upped their target price on McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a research note on Tuesday. Morgan Stanley reissued an "overweight" rating on shares of McKesson in a research report on Friday. Finally, UBS Group upped their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, McKesson presently has an average rating of "Moderate Buy" and an average target price of $977.00.

Institutional Trading of McKesson

Hedge funds and other institutional investors have recently bought and sold shares of the company. Horizon Investments LLC raised its position in shares of McKesson by 125.4% in the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company's stock worth $7,119,000 after buying an additional 4,828 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in McKesson by 18.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,526 shares of the company's stock valued at $25,860,000 after acquiring an additional 4,964 shares during the period. Concurrent Investment Advisors LLC increased its stake in McKesson by 62.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company's stock worth $2,590,000 after acquiring an additional 1,219 shares during the last quarter. Adelphi Trust Co purchased a new position in shares of McKesson in the 4th quarter worth about $1,177,000. Finally, Merit Financial Group LLC raised its holdings in shares of McKesson by 12.3% in the 4th quarter. Merit Financial Group LLC now owns 20,448 shares of the company's stock worth $16,774,000 after purchasing an additional 2,238 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source