Investors Sell McKesson Corp. (MCK) on Strength (MCK)
Traders sold shares of McKesson Corp. (NYSE:MCK) on strength during trading hours on Friday. $51.10 million flowed into the stock on the tick-up and $101.33 million flowed out of the stock on the tick-down, for a money net flow of $50.23 million out of the stock. Of all equities tracked, McKesson Corp. had the 0th highest net out-flow for the day. McKesson Corp. traded up $1.12 for the day and closed at $194.56
MCK has been the subject of several research reports. Vetr cut McKesson Corp. from a “strong-buy” rating to a “buy” rating and set a $193.09 target price for the company. in a research note on Thursday, May 5th. Leerink Swann restated a “buy” rating and issued a $200.00 price target on shares of McKesson Corp. in a research report on Thursday, May 5th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $188.00 price target on shares of McKesson Corp. in a research report on Friday, April 15th. Morgan Stanley restated a “buy” rating on shares of McKesson Corp. in a research report on Tuesday, May 31st. Finally, FBR & Co restated a “buy” rating on shares of McKesson Corp. in a research report on Saturday, June 4th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. McKesson Corp. presently has a consensus rating of “Buy” and an average target price of $201.56.
The stock’s 50 day moving average price is $188.78 and its 200-day moving average price is $171.68. The company has a market cap of $43.91 billion and a price-to-earnings ratio of 20.20.
McKesson Corp. (NYSE:MCK) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.33 by $0.17. The business had revenue of $49.73 billion for the quarter, compared to analyst estimates of $50.32 billion. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.14 earnings per share. On average, analysts expect that McKesson Corp. will post $13.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%.
In other McKesson Corp. news, EVP Patrick Blake sold 3,162 shares of the stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $179.33, for a total transaction of $567,041.46. Following the completion of the sale, the executive vice president now directly owns 20,167 shares in the company, valued at approximately $3,616,548.11. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO James A. Beer sold 5,500 shares of the stock in a transaction dated Thursday, July 14th. The stock was sold at an average price of $199.00, for a total value of $1,094,500.00. Following the sale, the chief financial officer now owns 12,412 shares of the company’s stock, valued at $2,469,988. The disclosure for this sale can be found here.
A number of hedge funds have modified their holdings of the company. Cypress Asset Management Inc. TX increased its stake in shares of McKesson Corp. by 0.5% in the fourth quarter. Cypress Asset Management Inc. TX now owns 5,200 shares of the company’s stock worth $1,026,000 after buying an additional 25 shares during the last quarter. Trexquant Investment LP bought a new position in McKesson Corp. during the fourth quarter worth about $1,065,000. Legacy Capital Partners Inc. boosted its position in McKesson Corp. by 1.7% in the fourth quarter. Legacy Capital Partners Inc. now owns 6,673 shares of the company’s stock worth $1,317,000 after buying an additional 113 shares during the period. Buckingham Capital Management Inc. boosted its position in McKesson Corp. by 5.7% in the third quarter. Buckingham Capital Management Inc. now owns 6,814 shares of the company’s stock worth $1,261,000 after buying an additional 365 shares during the period. Finally, Victory Capital Management Inc. boosted its position in McKesson Corp. by 47.4% in the fourth quarter. Victory Capital Management Inc. now owns 7,368 shares of the company’s stock worth $1,453,000 after buying an additional 2,369 shares during the period.
McKesson Corporation (McKesson) is a pharmaceutical distribution services and information technology company. The Company delivers an offering of pharmaceuticals and medical supplies. It operates through two segments: McKesson Distribution Solutions and McKesson Technology Solutions. The Distribution Solutions segment distributes branded and generic pharmaceutical drugs and other healthcare-related products around the world and provides practice management, technology, clinical support and business solutions to community-based oncology and other specialty practices.
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