LeAnn B. Smith, Executive Vice President and Chief Human Resources Officer at McKesson Corp (NYSE:MCK), recently executed a sale of company shares. According to the latest SEC filing, Smith sold 579 shares of McKesson common stock on January 2, 2025, at a price of $572.79 per share, amounting to a total transaction value of $331,645. The healthcare giant, with a market capitalization of $73.24 billion, has demonstrated strong financial health according to InvestingPro analysis. This sale was made under a pre-established trading plan adopted on September 9, 2024, in compliance with Rule 10b5-1(c). Following this transaction, Smith retains ownership of 864 shares in the company. McKesson's stock, known for its low volatility, currently trades below its InvestingPro Fair Value. Get access to 13 additional exclusive ProTips and comprehensive analysis through InvestingPro's detailed research reports.
In other recent news, McKesson Corporation (NYSE:MCK) has completed the sale of its Rexall and Well.ca businesses to Birch Hill Equity Partners, a strategic move to focus on core growth areas, particularly oncology and biopharma services. This decision aligns with McKesson's commitment to optimizing its investment strategies and capital allocation. The company's recent second-quarter fiscal 2025 results indicate a robust operational performance with a long-term growth rate projected to exceed its peers. The company's substantial oncology platform, valued at approximately $35 billion, is expected to contribute to a 12-14% increase in earnings per share compound annual growth rate over the next three to five years.
Mizuho (NYSE:MFG) has initiated coverage on McKesson, assigning a Neutral rating influenced by the company's expanded business model and recent positive developments. Meanwhile, Jefferies has raised its price target for McKesson to $715, maintaining a Buy rating for the company's shares. These recent developments highlight McKesson's focus on Oncology and Biopharma Services as a critical component of its growth strategy, with the potential for Cell and Gene therapies to drive future growth. These are the latest updates on McKesson's performance and market position.
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