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

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

McKesson Stock Up 2.0 %

Shares of McKesson stock opened at $577.44 on Friday. The business has a fifty day simple moving average of $584.70 and a 200-day simple moving average of $562.11. The stock has a market cap of $73.30 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company posted $6.23 earnings per share. Analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MCK shares. Citigroup upped their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI increased their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Leerink Partners dropped their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $650.14.

Institutional Inflows and Outflows

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