McKesson Corp. (MCK) SVP Erin M. Lampert Sells 1,739 Shares
McKesson Corp. (NYSE:MCK) SVP Erin M. Lampert sold 1,739 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $165.94, for a total transaction of $288,569.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of McKesson Corp. (NYSE:MCK) opened at 165.67 on Thursday. The company has a 50 day moving average of $176.82 and a 200-day moving average of $179.20. The company has a market cap of $37.39 billion, a price-to-earnings ratio of 17.20 and a beta of 0.93. McKesson Corp. has a 52 week low of $148.29 and a 52 week high of $202.20.
McKesson Corp. (NYSE:MCK) last announced its earnings results on Wednesday, July 27th. The company reported $3.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.33 by $0.17. The firm earned $49.73 billion during the quarter, compared to analysts’ expectations of $50.32 billion. McKesson Corp. had a return on equity of 31.62% and a net margin of 1.15%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.14 earnings per share. On average, equities research analysts expect that McKesson Corp. will post $13.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. McKesson Corp.’s payout ratio is currently 11.64%.
Large investors have recently made changes to their positions in the company. Advisor Partners LLC boosted its stake in McKesson Corp. by 3.9% in the first quarter. Advisor Partners LLC now owns 3,944 shares of the company’s stock valued at $620,000 after buying an additional 147 shares in the last quarter. Royal Bank of Scotland Group PLC boosted its stake in McKesson Corp. by 1.1% in the first quarter. Royal Bank of Scotland Group PLC now owns 70,614 shares of the company’s stock valued at $11,105,000 after buying an additional 785 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in McKesson Corp. during the first quarter valued at $219,000. Baker Ellis Asset Management LLC boosted its stake in McKesson Corp. by 15.7% in the first quarter. Baker Ellis Asset Management LLC now owns 735 shares of the company’s stock valued at $116,000 after buying an additional 100 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its stake in McKesson Corp. by 33.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 1,600 shares of the company’s stock valued at $252,000 after buying an additional 400 shares in the last quarter. 84.77% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on MCK. FBR & Co reiterated a “buy” rating on shares of McKesson Corp. in a report on Wednesday, June 22nd. Morgan Stanley lifted their price target on shares of McKesson Corp. from $199.00 to $211.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. Citigroup Inc. lifted their price target on shares of McKesson Corp. from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Mizuho lifted their price target on shares of McKesson Corp. from $174.00 to $197.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of McKesson Corp. in a report on Monday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $201.17.
About McKesson Corp.
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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