Vestmark Advisory Solutions Inc. Takes Position in McKesson Co. (NYSE:MCK)

Vestmark Advisory Solutions Inc. acquired a new position in McKesson Co. (NYSE:MCK) in the 4th quarter, Holdings Channel reports. The firm acquired 1,226 shares of the company’s stock, valued at approximately $568,000.

Several other hedge funds also recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new stake in McKesson during the 3rd quarter worth approximately $26,000. BKM Wealth Management LLC acquired a new stake in McKesson in the fourth quarter valued at approximately $31,000. WASHINGTON TRUST Co grew its stake in shares of McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after purchasing an additional 34 shares in the last quarter. Milestone Investment Advisors LLC purchased a new position in McKesson in the third quarter valued at $61,000. Finally, Orion Capital Management LLC acquired a new stake in McKesson in the third quarter valued at $63,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

McKesson Trading Up 0.7 %

MCK stock traded up $3.89 during mid-day trading on Monday, hitting $532.75. 81,469 shares of the company were exchanged, compared to its average volume of 695,807. The company has a market capitalization of $70.01 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. McKesson Co. has a twelve month low of $364.08 and a twelve month high of $544.81. The firm has a fifty day simple moving average of $530.38 and a 200 day simple moving average of $492.60.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. During the same period in the prior year, the business earned $6.90 EPS. The firm’s revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Friday, May 31st. McKesson’s payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup upped their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. UBS Group lifted their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Mizuho raised their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Finally, Morgan Stanley boosted their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $536.71.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.