McKesson (NYSE:MCK) EVP Michele Lau Sells 3,550 Shares of Stock

McKesson Corporation (NYSE:MCK) EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michele Lau also recently made the following trade(s):

• On Monday, March 2nd, Michele Lau sold 2,725 shares of McKesson stock. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00.

McKesson Trading Up 0.2%

NYSE MCK opened at $755.86 on Thursday. The company has a fifty day simple moving average of $827.20 and a two-hundred day simple moving average of $853.88. The stock has a market cap of $90.85 billion, a P/E ratio of 19.65, a P/E/G ratio of 1.12 and a beta of 0.35. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during 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 business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last 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, sell-side analysts forecast that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 8.53%.

Institutional Trading of McKesson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new position in McKesson in the fourth quarter valued at $25,000. Swiss RE Ltd. purchased a new position in McKesson in the fourth quarter valued at $26,000. GGM Financials LLC purchased a new position in McKesson in the third quarter valued at $25,000. State of Wyoming purchased a new position in McKesson in the second quarter valued at $29,000. Finally, Hopwood Financial Services Inc. purchased a new position in McKesson in the third quarter valued at $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MCK shares. Morgan Stanley reiterated an “overweight” rating and issued a $966.00 price objective on shares of McKesson in a research note on Thursday, January 29th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. UBS Group increased their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. TD Cowen increased their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Wells Fargo & Company cut their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

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.