Qualcomm, Merck And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at Uber Technologies, QUALCOMM, Merck & Co., and McKesson Corporation have recently sold significant amounts of shares. Uber's CEO sold 200,000 shares, QUALCOMM's CTO sold 10,000 shares, Merck's EVP&Pres sold 43,823 shares, and McKesson's CEO sold 23,963 shares. The reasons behind these sales are not clear, but they could be due to preplanned sales or concerns about the companies' prospects.
November 10, 2023 | 1:04 pm
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NEUTRAL IMPACT
McKesson's CEO sold 23,963 shares at an average price of $457.51. This follows McKesson's upbeat earnings for its second quarter.
While the CEO's sale of shares could be seen as a negative signal, it is offset by the company's positive Q2 earnings. The impact on McKesson's stock is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Merck's EVP&Pres sold 43,823 shares at an average price of $105.03. This follows Deutsche Bank's initiation of coverage on Merck with a Buy rating and a price target of $115.
The insider selling at Merck is a negative signal, but it is offset by Deutsche Bank's recent Buy rating. The impact on Merck's stock is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
QUALCOMM's CTO sold 10,000 shares at an average price of $120.11. This follows DZ Bank's upgrade of Qualcomm from Hold to Buy with a $140 price target.
While insider selling can be a negative signal, it is offset by the recent upgrade from DZ Bank. The impact on QUALCOMM's stock is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Uber's CEO sold 200,000 shares at an average price of $50.00. This follows a Q3 FY23 revenue growth of 11% YoY to $9.29 billion, missing the consensus of $9.52 billion.
Insider selling, especially by a CEO, can be a negative signal to the market. Coupled with a revenue miss, this could potentially impact Uber's stock negatively in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100