McKesson Corporation (NYSE:MCK) director Susan R. Salka recently sold a total of $340,944 worth of company stock, according to the latest SEC filings. The transactions were executed over two days, with shares sold at prices ranging from $554.61 to $558.0379.
On May 10, Salka sold 606 shares of McKesson's common stock at an average price of $558.0379, alongside a smaller transaction of 4 shares at the same price. Another sale took place on May 13, where she sold approximately 1 share—specifically 0.9754 shares as noted in the footnotes— at a price of $554.61. The shares sold on May 10 were reported to be part of a weighted average, with individual sales conducted at prices between $557.86 and $558.09.
Additionally, the SEC filing included a footnote clarifying that the shares sold on May 13 were indirectly owned by Salka, by the Susan Salka Trust dated January 5, 2011, which includes shares acquired pursuant to a dividend reinvestment.
Following these transactions, the reported documents indicate that Salka now holds zero direct shares in McKesson Corp. The company, a leader in the wholesale pharmaceutical distribution sector, has seen its stock fluctuate in recent times amidst the dynamic healthcare market.
Investors often keep a close eye on insider transactions such as these, as they can provide insights into executives' perspectives on the company's current valuation and future prospects. The filing was signed by Sarah Ahmad Ali, Attorney-in-fact, on May 14, 2024.
InvestingPro Insights
McKesson Corporation (NYSE:MCK) has been demonstrating a strong financial performance, as reflected in several key metrics and InvestingPro Tips. With a robust market capitalization of $71.69 billion and a revenue growth of 11.65% over the last twelve months as of Q1 2024, the company is a significant force in the healthcare providers and services industry. McKesson's commitment to returning value to shareholders is evident, with a dividend yield of 0.45% and a notable track record of increasing its dividend for 16 consecutive years.
InvestingPro Tips highlight that management has been actively engaging in share buybacks, signaling confidence in the company's valuation and future growth. Additionally, the company's stock is currently trading near its 52-week high, with a price of 97.54% of that peak. This could indicate a strong market sentiment and potential for continued share price appreciation.
For investors seeking further insights and analysis, there are additional InvestingPro Tips available, including observations on the company's earnings revisions, debt levels, and gross profit margins. Specifically, four analysts have revised their earnings estimates upwards for the upcoming period, and the company operates with a moderate level of debt. Interested investors can find a comprehensive list of these tips on the InvestingPro platform, which includes a total of 14 insightful tips for McKesson Corporation at https://www.investing.com/pro/MCK. To gain full access to these valuable insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Overall, the recent insider transactions, coupled with McKesson's solid financial metrics and strategic shareholder value initiatives, paint a picture of a company that's well-positioned in its market. These factors may influence investor decisions and are worth considering in the broader context of the company's performance and stock valuation.
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