McKesson Co. (NYSE:MCK) EVP Leann B. Smith Sells 579 Shares

McKesson Co. (NYSE:MCK) EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

McKesson Stock Performance

Shares of MCK stock opened at $577.44 on Monday. The company has a market cap of $73.30 billion, a P/E ratio of 29.90, a PEG ratio of 1.25 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The stock has a 50 day simple moving average of $584.70 and a two-hundred day simple moving average of $561.54.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.23 EPS. On average, research analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. McKesson’s dividend payout ratio is presently 14.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Leerink Partners reduced their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Evercore ISI increased their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $650.14.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MCK. GAMMA Investing LLC raised its position in shares of McKesson by 17.1% during the fourth quarter. GAMMA Investing LLC now owns 3,160 shares of the company’s stock worth $1,801,000 after purchasing an additional 462 shares during the period. Versant Capital Management Inc increased its stake in McKesson by 45.3% during the 4th quarter. Versant Capital Management Inc now owns 337 shares of the company’s stock valued at $192,000 after purchasing an additional 105 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in McKesson by 128.0% during the third quarter. Lord Abbett & CO. LLC now owns 199,136 shares of the company’s stock worth $98,456,000 after buying an additional 111,808 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of McKesson in the third quarter valued at $7,804,000. Finally, Beaird Harris Wealth Management LLC grew its holdings in shares of McKesson by 7,000.0% during the third quarter. Beaird Harris Wealth Management LLC now owns 426 shares of the company’s stock valued at $211,000 after buying an additional 420 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.