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 $59,573 were sold by Avila Nancy on Feb 03. At $370.02 per share, Avila Nancy sold 161 shares. The insider’s holdings dropped to 4,631 shares worth approximately $1.63 million following the completion of this transaction.
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Also, TYLER BRIAN S. sold 7,416 shares, netting a total of over 2,818,080 in proceeds. Following the sale of shares at $380.00 each, the insider now holds 75,737 shares.
Before that, Schechter Lori A. had sold 2,500 shares from its account. In a trade valued at $949,475, the EVP, Chief Legal Officer & GC traded McKesson Corporation shares for $379.79 each. Upon closing the transaction, the insider’s holdings decreased to 2,500 shares, worth approximately $1.47 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 Stock Performance
On Wednesday, McKesson Corporation [NYSE: MCK] rose 0.55% to $351.75. The stock’s lowest price that day was $347.35, but it reached a high of $352.13 in the same session. During the last five days, there has been a drop of approximately -2.48%. Over the course of the year, McKesson Corporation shares have dropped approximately -6.23%. Shares of the company reached a 52-week high of $391.49 on 01/09/23 and a 52-week low of $347.35 on 03/01/23. A 50-day SMA is recorded $372.11, while a 200-day SMA reached $355.51. Nevertheless, trading volume fell to 0.72 million shares from 1.28 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 348.69, which, if violated, would cause prices to drop to 345.63. In the upper region, resistance lies at 353.47. The next price resistance is at 355.19. RSI (Relative Strength Index) is 32.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.85, which suggests the price will decrease in the coming days. Percent R is at 80.77%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is McKesson Corporation subject to short interest?
Stocks of McKesson Corporation saw a sharp steep in short interest on Jan 30, 2023 dropping by -1.16 million shares to 2.7 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 3.86 million shares. A decline of -42.96% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.96 of the overall float, the days-to-cover ratio (short ratio) decline to 2.96.
Which companies own the most shares of McKesson Corporation (MCK)?
According to The Vanguard Group, Inc. filings, the company currently owns 12,277,413 shares, which is about 8.66% of the total MCK shares outstanding. The investor’s shares have plunged by -2,328,419 from its previous 13-F filing of 14605832.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $2,653,142,655. SSgA Funds Management, Inc. acquire a 1.68% interest valued at $2.52 billion while Massachusetts Financial Services sold a -209,608 stake. A total of -62,654 shares of McKesson Corporation were sold by JPMorgan Investment Management, I during the quarter, and -342,830 were sold by Berkshire Hathaway, Inc. In its current portfolio, Geode Capital Management LLC holds 2,503,260 shares valued at $947.93 million.
In terms of McKesson Corporation share price expectations, FactSet research, analysts set an average price target of $428.54 in the next 12 months, up nearly 22.92% from the previous closing price of $349.81. Analysts anticipate McKesson Corporation stock to reach $450.00 by 2023, with the lowest price target being $376.00. In spite of this, 17 analysts ranked McKesson Corporation stock as an Overweight at the end of 2023. On February 04, 2022, Deutsche Bank assigned a price target of “a Hold” to the stock and downgraded coverage with a $270.