Saturday, June 25, 2022

A company insider recently sold 1,535 shares of McKesson Corporation [MCK]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. McKesson Corporation shares valued at $468,482 were sold by TYLER BRIAN S. on Jun 21. At $305.20 per share, TYLER BRIAN S. sold 1,535 shares. The insider’s holdings dropped to 75,737 shares worth approximately $23.56 million following the completion of this transaction.

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Also, TYLER BRIAN S. sold 4,767 shares, netting a total of over 1,455,794 in proceeds. Following the sale of shares at $305.39 each, the insider now holds 77,272 shares.

Before that, TYLER BRIAN S. had sold 3,232 shares from its account. In a trade valued at $996,458, the Chief Executive Officer traded McKesson Corporation shares for $308.31 each. Upon closing the transaction, the insider’s holdings decreased to 3,232 shares, worth approximately $25.52 million.

As published in a research note from Deutsche Bank on June 07, 2022, McKesson Corporation [MCK] has been rated up from a Hold to a Buy and the price target has been revised to $378 from $343. This represents a 17.71% premium over Wednesday’s closing price. As of February 04, 2022, Deutsche Bank has decreased its “Buy” rating to a “Hold” for MCK. Earlier on January 07, 2022, Credit Suisse upgraded its rating. Their new recommendation was “an Outperform” for MCK stock which previously was a “a Neutral”.

Analyzing MCK’s Price Performance

On Wednesday, McKesson Corporation [NYSE: MCK] rose 0.54% to $311.05. The stock’s lowest price that day was $305.59, but it reached a high of $312.52 in the same session. During the last five days, there has been a surge of approximately 1.48%. Over the course of the year, McKesson Corporation shares have jumped approximately 25.14%. Shares of the company reached a 52-week high of $339.94 on 05/11/22 and a 52-week low of $237.61 on 01/24/22. A 50-day SMA is recorded $320.42, while a 200-day SMA reached $262.43. Nevertheless, trading volume fell to 1.13 million shares from 1.0 million shares the previous day.

Support And Resistance Levels for McKesson Corporation (MCK)

According to the 24-hour chart, there is a support level at 306.92, which, if violated, would cause prices to drop to 302.79. In the upper region, resistance lies at 313.85. The next price resistance is at 316.65. RSI (Relative Strength Index) is 45.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.49, which suggests the price will decrease in the coming days. Percent R is at 49.56%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of McKesson Corporation (MCK)?

According to The Vanguard Group, Inc. filings, the company currently owns 14,836,701 shares, which is about 10.21% of the total MCK shares outstanding. The investor’s shares have plunged by -37,186 from its previous 13-F filing of 14873887.0 shares. With the completion of the sale, BlackRock Fund Advisors’s stake is now worth $2,388,155,044. SSgA Funds Management, Inc. reduced a -3.88% interest valued at $2.15 billion while Massachusetts Financial Services sold a -72,859 stake. A total of 21,144 shares of McKesson Corporation were sold by JPMorgan Investment Management, I during the quarter, and 2,921,975 by Berkshire Hathaway, Inc. In its current portfolio, Geode Capital Management LLC holds 2,857,659 shares valued at $939.28 million.

In terms of McKesson Corporation share price expectations, FactSet research, analysts set an average price target of $372.85 in the next 12 months, up nearly 21.21% from the previous closing price of $309.38. Analysts anticipate McKesson Corporation stock to reach $395.00 by 2022, with the lowest price target being $331.00. In spite of this, 16 analysts ranked McKesson Corporation stock as an Overweight at the end of 2022. On November 02, 2021, Jefferies assigned a price target of “a Buy” to the stock and reiterated coverage with a $280.

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