McKesson Co. (NYSE:MCK) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC grew its position in shares of McKesson Co. (NYSE:MCK) by 40.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,604 shares of the company’s stock after purchasing an additional 463 shares during the period. Wealthspire Advisors LLC’s holdings in McKesson were worth $742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Catalyst Financial Partners LLC grew its stake in McKesson by 4.8% in the 4th quarter. Catalyst Financial Partners LLC now owns 813 shares of the company’s stock worth $376,000 after acquiring an additional 37 shares during the period. E Fund Management Co. Ltd. purchased a new stake in shares of McKesson in the fourth quarter valued at $230,000. National Pension Service increased its stake in McKesson by 3.0% in the fourth quarter. National Pension Service now owns 323,380 shares of the company’s stock valued at $149,718,000 after purchasing an additional 9,323 shares during the last quarter. Verus Financial Partners Inc. increased its stake in McKesson by 21.2% in the fourth quarter. Verus Financial Partners Inc. now owns 1,012 shares of the company’s stock valued at $491,000 after purchasing an additional 177 shares during the last quarter. Finally, Picton Mahoney Asset Management boosted its stake in McKesson by 15.8% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the company’s stock worth $271,000 after buying an additional 80 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on MCK. UBS Group upped their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Morgan Stanley boosted their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Evercore ISI increased their target price on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, SVB Leerink initiated coverage on McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $571.47.

McKesson Stock Up 0.9 %

Shares of MCK traded up $5.25 during mid-day trading on Friday, reaching $560.37. 17,024 shares of the stock traded hands, compared to its average volume of 708,463. The firm has a market cap of $73.64 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 1.41 and a beta of 0.45. The stock has a fifty day simple moving average of $531.56 and a 200 day simple moving average of $494.15. McKesson Co. has a 12-month low of $373.28 and a 12-month high of $566.01.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.19 EPS. On average, equities research analysts expect that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.44%. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction 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 approximately $22,789,074.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated 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 owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 186 shares of McKesson 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 transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

McKesson Company 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.