A company insider recently sold 7,500 shares of McKesson Corporation [MCK]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. McKesson Corporation shares valued at $2,579,550 were sold by Schechter Lori A. on Sep 15. At $343.94 per share, Schechter Lori A. sold 7,500 shares. The insider’s holdings dropped to 11,678 shares worth approximately $4.05 million following the completion of this transaction.


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Also, Rodgers Thomas L sold 1,300 shares, netting a total of over 477,373 in proceeds. Following the sale of shares at $367.21 each, the insider now holds 2,544 shares.

Before that, TYLER BRIAN S. had sold 1,535 shares from its account. In a trade valued at $468,482, the Chief Executive Officer traded McKesson Corporation shares for $305.20 each. Upon closing the transaction, the insider’s holdings decreased to 1,535 shares, worth approximately $26.28 million.

Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early July. As of June 07, 2022, Deutsche Bank has increased its “Hold” rating to a “Buy” for MCK.

Analyzing MCK’s Price Performance

On Thursday, McKesson Corporation [NYSE: MCK] rose 0.43% to $346.96. The stock’s lowest price that day was $344.01, but it reached a high of $349.97 in the same session. During the last five days, there has been a surge of approximately 1.74%. Over the course of the year, McKesson Corporation shares have jumped approximately 39.58%. Shares of the company reached a 52-week high of $375.23 on 08/16/22 and a 52-week low of $237.61 on 01/24/22. A 50-day SMA is recorded $351.03, while a 200-day SMA reached $305.58. Nevertheless, trading volume fell to 1.11 million shares from 0.77 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 343.99, which, if violated, would cause prices to drop to 341.02. In the upper region, resistance lies at 349.95. The next price resistance is at 352.94. RSI (Relative Strength Index) is 43.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.94, which suggests the price will decrease in the coming days. Percent R is at 71.76%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is McKesson Corporation subject to short interest?

Stocks of McKesson Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 20000.0 shares to 2.5 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.48 million shares. A jump of 0.8% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.03 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.03.

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

According to The Vanguard Group, Inc. filings, the company currently owns 14,620,819 shares, which is about 10.17% of the total MCK shares outstanding. The investor’s shares have plunged by -215,882 from its previous 13-F filing of 14836701.0 shares. With the completion of the buy transaction, Manulife Investment Management Lt’s stake is now worth $2,449,213,035. SSgA Funds Management, Inc. acquire a 1.03% interest valued at $2.43 billion while BlackRock Fund Advisors sold a -662,646 stake. A total of -732,534 shares of McKesson Corporation were sold by Massachusetts Financial Services during the quarter, and -236,351 were sold by JPMorgan Investment Management, I. In its current portfolio, Berkshire Hathaway, Inc. holds 3,198,344 shares valued at $1.17 billion.

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