McKesson Corporation $MCK Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. trimmed its holdings in shares of McKesson Corporation (NYSE:MCK) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 46,864 shares of the company’s stock after selling 914 shares during the period. Flputnam Investment Management Co.’s holdings in McKesson were worth $35,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC raised its position in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the period. Caxton Associates LLP acquired a new stake in McKesson in the first quarter worth $233,000. Sivia Capital Partners LLC increased its position in McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares during the period. Treasurer of the State of North Carolina lifted its stake in McKesson by 0.9% in the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after buying an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in shares of McKesson during the second quarter valued at $166,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In related news, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,111 shares of company stock worth $18,011,274 over the last quarter. Company insiders own 0.06% of the company’s stock.

McKesson Trading Up 0.6%

Shares of NYSE MCK opened at $895.59 on Friday. The business has a 50-day moving average price of $833.31 and a two-hundred day moving average price of $844.13. McKesson Corporation has a one year low of $679.65 and a one year high of $999.00. The firm has a market capitalization of $104.42 billion, a PE ratio of 23.97, a PEG ratio of 1.76 and a beta of 0.30.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the prior year, the firm earned $8.26 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts anticipate that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is 8.78%.

McKesson News Roundup

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Expansion into precision medicine: McKesson agreed to acquire privately held Precision Medicine Group for approximately $2.25 billion. Precision Medicine provides clinical research, laboratory testing and commercialization services for biotechnology and pharmaceutical companies, giving McKesson greater exposure to oncology, personalized medicine and specialty care. McKesson Doubles Down on Healthcare Growth With Precision Medicine Acquisition
• Positive Sentiment: Higher-growth service mix: The acquisition is expected to strengthen McKesson’s clinical research and commercialization capabilities and deepen relationships with biopharmaceutical companies and oncology practices. Investors may view the transaction as a way to reduce reliance on lower-margin pharmaceutical distribution and participate in growth tied to new drug development. What Does McKesson Gain From Its Push Into Oncology And Clinical Research?
• Neutral Sentiment: Portfolio repositioning amid workforce changes: Coverage noted layoffs at Rx Savings while McKesson plans the Precision Medicine acquisition. The combination highlights an ongoing reallocation of resources, although the near-term effect on earnings and integration costs remains uncertain. Amid Layoffs, McKesson Plans Acquisition
• Negative Sentiment: Cybersecurity incident disclosed: McKesson reported discovering a cybersecurity incident on August 25 after the ShinyHunters group claimed it had stolen patient data. The company’s investigation and any resulting regulatory, remediation, privacy or reputational costs could weigh on sentiment, although the ultimate scope and financial impact were not yet clear. McKesson Discloses Breach After ShinyHunters Claims Patient Data Theft

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCK. Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. TD Cowen raised their target price on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. UBS Group boosted their price target on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada initiated coverage on McKesson in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price target for the company. Finally, Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $973.44.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.