2 days Ago By ABMN Staff
Parallel Advisors LLC increased its stake in shares of McKesson Co. ( NYSE:MCK – Free Report ) by 12.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC).
The institutional investor owned 2,476 shares of the company’s stock after buying an additional 281 shares during the quarter. Parallel Advisors LLC’s holdings in McKesson were worth $1,446,000 at the end of the most recent reporting period. Other hedge funds have also recently added to or reduced their stakes in the company.
Norges Bank bought a new position in shares of McKesson in the fourth quarter worth $1,024,140,000. Swedbank AB acquired a new position in shares of McKesson in the 1st quarter valued at approximately $669,326,000. TD Asset Management Inc lifted its holdings in shares of McKesson by 202.
8% during the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock worth $278,778,000 after acquiring an additional 403,312 shares during the period. Bessemer Group Inc.
boosted its position in shares of McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc.
now owns 349,395 shares of the company’s stock worth $187,572,000 after acquiring an additional 340,007 shares in the last quarter. Finally, Bristol Gate Capital Partners Inc. acquired a new stake in shares of McKesson during the 1st quarter worth approximately $97,510,000.
Institutional investors own 85.07% of the company’s stock. Wall Street Analyst Weigh In Several equities research analysts have weighed in on the company.
Barclays upped their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th.
Wells Fargo & Company dropped their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday.
Robert W. Baird decreased their target price on McKesson from $694.00 to $671.
00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Mizuho increased their target price on shares of McKesson from $540.00 to $570.
00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Leerink Partners decreased their price target on shares of McKesson from $670.00 to $665.
00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $620.
93. Insiders Place Their Bets In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Monday, August 5th.
The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59.
Following the sale, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website .
In the last ninety days, insiders sold 11,259 shares of company stock worth $6,635,492. Company insiders own 0.11% of the company’s stock.
McKesson Trading Up 1.5 % Shares of MCK opened at $518.81 on Monday.
The stock’s 50-day moving average price is $567.33 and its two-hundred day moving average price is $557.76.
McKesson Co. has a 12 month low of $417.65 and a 12 month high of $637.
51. The company has a market capitalization of $67.28 billion, a PE ratio of 23.
18, a PEG ratio of 1.18 and a beta of 0.44.
McKesson ( NYSE:MCK – Get Free Report ) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.
21 by $0.67. McKesson had a negative return on equity of 242.
57% and a net margin of 0.94%. The business had revenue of $79.
28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the prior year, the business posted $7.
27 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis.
Equities research analysts predict that McKesson Co. will post 32.11 EPS for the current fiscal year.
McKesson Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a dividend of $0.71 per share.
The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.
55%. This is a boost from McKesson’s previous quarterly dividend of $0.62.
McKesson’s dividend payout ratio is 12.69%. McKesson Profile ( Free Report ) 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.
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