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 $1,821,762 were sold by TYLER BRIAN S. on Mar 15 ’24. At $524.55 per share, TYLER BRIAN S. sold 3,473 shares. The insider’s holdings dropped to 43,445 shares worth approximately $23.26 million following the completion of this transaction.
Also, Rutledge Napoleon B JR sold 190 shares, netting a total of over 100,698 in proceeds. Following the sale of shares at $529.99 each, the insider now holds 887 shares.
Before that, Smith LeAnn B had sold 186 shares from its account. In a trade valued at $92,256, the EVP & Chief HR Officer traded Mckesson Corporation shares for $496.00 each. Upon closing the transaction, the insider’s holdings decreased to 186 shares, worth approximately $0.81 million.
As published in their initiating research note from Leerink Partners on February 26, 2024, Mckesson Corporation [MCK] has been an Outperform and the price target has been revised to $600. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in early January. As of December 14, 2023, Wells Fargo has initiated its “an Equal weight” rating for MCK. Earlier on March 31, 2023, Citigroup initiated its rating. Their recommendation was “a Buy” for MCK stock.
Analyzing MCK Stock Performance
During the last five days, there has been a surge of approximately 1.81%. Over the course of the year, Mckesson Corporation shares have jumped approximately 15.65%. Shares of the company reached a 52-week high of $543.00 on 04/04/24 and a 52-week low of $462.70 on 01/02/24. A 50-day SMA is recorded $525.97, while a 200-day SMA reached $468.10. Nevertheless, trading volume fell to 0.42 million shares from 0.49 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 530.75, which, if violated, would cause prices to drop to 526.08. In the upper region, resistance lies at 538.62. The next price resistance is at 541.81. RSI (Relative Strength Index) is 57.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.73, which suggests the price will increase in the coming days. Percent R is at 22.20%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
