Insider Selling: McKesson Co. (MCK) Chairman Sells 65,000 Shares of Stock

McKesson Co. (NYSE:MCK) Chairman John H. Hammergren sold 65,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $160.00, for a total value of $10,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

John H. Hammergren also recently made the following trade(s):

  • On Friday, September 22nd, John H. Hammergren sold 225,000 shares of McKesson stock. The stock was sold at an average price of $151.67, for a total value of $34,125,750.00.
  • On Wednesday, September 20th, John H. Hammergren sold 125,000 shares of McKesson stock. The stock was sold at an average price of $150.18, for a total value of $18,772,500.00.
  • On Friday, September 22nd, John H. Hammergren sold 100,000 shares of McKesson stock. The stock was sold at an average price of $153.53, for a total value of $15,353,000.00.

McKesson Co. (NYSE:MCK) traded down $2.34 during trading on Monday, reaching $160.26. The company had a trading volume of 2,654,534 shares, compared to its average volume of 1,885,664. The stock has a market cap of $33,898.04, a PE ratio of 13.37, a PEG ratio of 1.67 and a beta of 1.23. McKesson Co. has a 1 year low of $133.82 and a 1 year high of $169.29. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, October 26th. The company reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.50. The firm had revenue of $52.06 billion during the quarter, compared to analysts’ expectations of $51.69 billion. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.94 EPS. equities research analysts predict that McKesson Co. will post 12.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, November 30th. McKesson’s dividend payout ratio is presently 6.45%.

Several research analysts have issued reports on MCK shares. Needham & Company LLC set a $178.00 price objective on McKesson and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Credit Suisse Group restated an “underperform” rating and issued a $130.00 price target (down previously from $155.00) on shares of McKesson in a research report on Thursday, November 9th. TheStreet cut McKesson from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Royal Bank of Canada restated a “hold” rating and issued a $170.00 price target on shares of McKesson in a research report on Friday, October 27th. Finally, Morgan Stanley cut McKesson from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $184.00 to $172.00 in a research report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $174.31.

A number of institutional investors have recently bought and sold shares of MCK. BlackRock Inc. increased its position in McKesson by 8.0% during the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock worth $2,522,396,000 after purchasing an additional 1,131,024 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in McKesson during the 2nd quarter worth about $164,688,000. AJO LP increased its position in McKesson by 742.4% during the 2nd quarter. AJO LP now owns 647,052 shares of the company’s stock worth $106,466,000 after purchasing an additional 570,243 shares in the last quarter. Baupost Group LLC MA purchased a new stake in McKesson during the 3rd quarter worth about $76,805,000. Finally, Kiltearn Partners LLP increased its position in McKesson by 59.5% during the 2nd quarter. Kiltearn Partners LLP now owns 1,242,132 shares of the company’s stock worth $204,380,000 after purchasing an additional 463,303 shares in the last quarter. Hedge funds and other institutional investors own 88.10% of the company’s stock.

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About McKesson

McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.

Insider Buying and Selling by Quarter for McKesson (NYSE:MCK)

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