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

McKesson Co. (NYSE:MCK) EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

McKesson Stock Down 1.3 %

McKesson stock opened at $584.07 on Wednesday. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The firm has a market cap of $74.14 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The business’s 50-day moving average price is $556.78 and its 200 day moving average price is $562.15.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The firm 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 business’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business posted $6.23 EPS. Equities analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on MCK shares. Wells Fargo & Company decreased their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Leerink Partners dropped their target price 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. Finally, Citigroup raised their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $635.86.

Hedge Funds Weigh In On McKesson

A number of large investors have recently bought and sold shares of the business. Wolff Wiese Magana LLC increased its position in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in McKesson during the third quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson in the third quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson during the third quarter worth about $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson during the 2nd quarter worth about $52,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Company Profile

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.