McKesson Rises 0.44% on 0.7B Volume 111th in Market Activity as Institutions Diverge

McKesson (MCK) rose 0.44% on August 27, with a trading volume of 0.70 billion, ranking 111th in market activity for the day. Institutional activity and corporate updates influenced the stock’s performance.

Alhambra Investment Partners LLC added $200,000 to its stake in MCK, while Advisor Resource Council sold 2,106 shares. Perfromance Wealth Partners LLC also increased its position by $948,000, reflecting varied institutional investor strategies. Meanwhile, McKesson announced the availability of an FDA-cleared drug for myelofibrosis, signaling potential therapeutic advancements.

CEO Brian Tyler’s recent sale of 11,930 shares, reducing his holdings by 74.83%, drew attention. Despite the insider divestment, the company reported a 23.4% year-over-year revenue increase in its latest quarter. Analysts remain cautiously optimistic, with revised price targets and “buy” ratings from firms like UBS and Morgan Stanley.

McKesson’s dividend was raised to $0.82 per share, up from $0.71, offering a 0.5% yield. Institutional ownership remains strong, with 85.07% held by institutional investors. The stock’s 52-week range of $464.42 to $737.89 and a market cap of $84.5 billion highlight its position as a key player in healthcare distribution.

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