McKesson (NYSE:MCK) Director Bradley Lerman Sells 301 Shares of Stock

McKesson Corporation (NYSE:MCK) Director Bradley Lerman sold 301 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

McKesson Stock Performance

MCK opened at $901.66 on Wednesday. The company has a market cap of $105.12 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.73 and a beta of 0.30. The stock has a 50-day moving average of $806.83 and a 200-day moving average of $841.94. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts predict that McKesson Corporation will post 44.6 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 10.06%.

Institutional Investors Weigh In On McKesson

Several hedge funds and other institutional investors have recently modified their holdings of MCK. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson in the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new position in shares of McKesson during the 4th quarter worth about $26,000. State of Wyoming acquired a new position in shares of McKesson during the second quarter valued at about $29,000. Kingdom Financial Group LLC. acquired a new position in shares of McKesson during the fourth quarter valued at about $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of McKesson in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MCK shares. TD Cowen raised their target price 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. William Blair started coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Morgan Stanley restated an “overweight” rating on shares of McKesson in a report on Friday. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Finally, Barclays dropped their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $977.00.

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.