Orion Portfolio Solutions LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 496 shares of the company’s stock, valued at approximately $69,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in MCK. Redpoint Investment Management Pty Ltd grew its stake in shares of McKesson by 36.8% in the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 26,728 shares of the company’s stock valued at $3,653,000 after buying an additional 7,186 shares during the period. Voya Investment Management LLC boosted its stake in shares of McKesson by 10.7% in the 3rd quarter. Voya Investment Management LLC now owns 205,895 shares of the company’s stock valued at $28,137,000 after buying an additional 19,982 shares during the period. Accurate Investment Solutions Inc. acquired a new position in shares of McKesson during the fourth quarter worth about $112,000. KCM Investment Advisors LLC grew its position in shares of McKesson by 33.2% during the third quarter. KCM Investment Advisors LLC now owns 3,273 shares of the company’s stock worth $447,000 after buying an additional 815 shares in the last quarter. Finally, Chicago Equity Partners LLC increased its stake in shares of McKesson by 12.3% during the fourth quarter. Chicago Equity Partners LLC now owns 5,665 shares of the company’s stock worth $784,000 after buying an additional 620 shares during the period. 88.20% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Brian S. Tyler sold 4,063 shares of McKesson stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $124.77, for a total transaction of $506,940.51. Following the completion of the sale, the chief executive officer now directly owns 16,255 shares in the company, valued at approximately $2,028,136.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 4,062 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $167.09, for a total transaction of $678,719.58. Following the sale, the chief executive officer now owns 16,254 shares of the company’s stock, valued at $2,715,880.86. The disclosure for this sale can be found here. Insiders sold 12,187 shares of company stock valued at $1,809,908 in the last quarter. 0.88% of the stock is currently owned by company insiders.
MCK has been the subject of a number of recent research reports. TheStreet upgraded shares of McKesson from a “c+” rating to a “b-” rating in a research note on Friday, February 21st. Goldman Sachs Group upgraded shares of McKesson from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $173.00 to $174.00 in a research note on Wednesday, March 18th. Credit Suisse Group reissued a “hold” rating and issued a $145.00 target price on shares of McKesson in a report on Wednesday, March 18th. ValuEngine cut McKesson from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Finally, Deutsche Bank upped their price objective on McKesson from $153.00 to $173.00 and gave the stock a “hold” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. McKesson presently has a consensus rating of “Hold” and a consensus price target of $166.09.
Shares of MCK traded up $10.42 during mid-day trading on Thursday, reaching $131.66. 2,282,153 shares of the company’s stock were exchanged, compared to its average volume of 5,187,777. The business’s fifty day simple moving average is $148.47 and its 200-day simple moving average is $144.35. The stock has a market capitalization of $22.35 billion, a PE ratio of -26.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.03. McKesson Co. has a 52-week low of $111.71 and a 52-week high of $172.18. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.98 and a quick ratio of 0.56.
McKesson (NYSE:MCK) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $3.81 EPS for the quarter, beating analysts’ consensus estimates of $3.56 by $0.25. The company had revenue of $59.17 billion for the quarter, compared to analyst estimates of $59.10 billion. McKesson had a negative net margin of 0.41% and a positive return on equity of 36.40%. McKesson’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $3.40 earnings per share. Equities research analysts predict that McKesson Co. will post 14.78 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Friday, February 28th. McKesson’s dividend payout ratio is presently 12.09%.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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