McKesson Co. (NYSE:MCK) CEO Sells $5,358,588.39 in Stock

McKesson Co. (NYSE:MCK) CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

McKesson Price Performance

Shares of NYSE MCK traded up $9.80 during mid-day trading on Monday, reaching $607.51. 112,663 shares of the company traded hands, compared to its average volume of 727,191. The stock has a fifty day simple moving average of $589.02 and a 200-day simple moving average of $561.62. The firm has a market cap of $76.14 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 1.29 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.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s payout ratio is presently 13.00%.

Analyst Ratings Changes

Several research firms have recently issued reports on MCK. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Finally, Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $645.79.

Institutional Investors Weigh In On McKesson

Hedge funds have recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in McKesson in the 4th quarter worth about $28,000. MidAtlantic Capital Management Inc. acquired a new stake in McKesson in the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the 3rd quarter valued at $31,000. Synergy Asset Management LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $32,000. Finally, Crews Bank & Trust bought a new position in McKesson during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.