Crispr Therapeutics shares tumble after significant earnings miss
McKesson Corp’s (NYSE:MCK) Chief Executive Officer, Tyler Brian S., recently executed a significant stock sale. The healthcare services giant, currently valued at $81.45 billion, has seen its stock surge approximately 28% over the past six months, trading near its 52-week high of $653.92. On March 6, he sold 8,962 shares of McKesson’s common stock at a price of $634.24 per share, totaling approximately $5.68 million. This transaction was part of a previously adopted plan under Rule 10b5-1(c), as noted in the filing. Following this sale, Tyler retains ownership of 42,741 shares directly. Additionally, he holds 214.9564 shares indirectly through the McKesson Corporation 401(k) Retirement Savings Plan.According to InvestingPro analysis, McKesson maintains a "GREAT" financial health score, and the stock appears slightly undervalued based on its Fair Value assessment. For deeper insights into McKesson’s valuation and 15 additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, McKesson Corporation reported third-quarter earnings that fell short of analyst expectations, posting an adjusted earnings per share (EPS) of $8.03 compared to the anticipated $8.27. The company reported a revenue of $95.29 billion, which, despite being an 18% year-over-year increase, was below the forecasted $95.77 billion. Nevertheless, McKesson raised its full-year adjusted EPS guidance to a range of $32.55 to $32.95, slightly above the analyst consensus midpoint of $32.67. In a strategic move, McKesson announced plans to acquire a controlling interest in PRISM Vision Holdings LLC for $850 million and Florida Cancer Specialists & Research Institute for $2.5 billion, aiming to enhance its specialty services. S&P Global Ratings revised its outlook on McKesson to positive from stable, affirming a ’BBB+’ rating due to expected growth in its U.S. pharmaceutical and prescription technology segments. Additionally, Citi analyst Daniel Grosslight raised the price target for McKesson shares to $685, maintaining a Buy rating, following a mixed quarter with notable performance in the pharmaceutical segment. McKesson’s U.S. pharmaceutical segment experienced a 19% revenue growth, driven by increased prescription volumes and growth in the oncology platform. Despite challenges in the Med-Surg division, McKesson’s strategic initiatives and operational performance reflect its ability to navigate the evolving healthcare landscape.
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