Parkman Healthcare Partners LLC Purchases New Holdings in McKesson Co. (NYSE:MCK)

Parkman Healthcare Partners LLC bought a new position in McKesson Co. (NYSE:MCK) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 23,000 shares of the company’s stock, valued at approximately $13,108,000. McKesson accounts for approximately 1.7% of Parkman Healthcare Partners LLC’s portfolio, making the stock its 20th largest holding.

A number of other institutional investors have also bought and sold shares of the business. Czech National Bank grew its stake in shares of McKesson by 4.2% in the fourth quarter. Czech National Bank now owns 27,524 shares of the company’s stock worth $15,686,000 after acquiring an additional 1,108 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of McKesson by 42.8% in the fourth quarter. Brookstone Capital Management now owns 10,473 shares of the company’s stock valued at $5,969,000 after buying an additional 3,137 shares during the last quarter. Capital Investment Advisors LLC raised its holdings in shares of McKesson by 29.0% in the fourth quarter. Capital Investment Advisors LLC now owns 2,379 shares of the company’s stock valued at $1,356,000 after buying an additional 535 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of McKesson by 9.8% in the fourth quarter. Wedmont Private Capital now owns 2,003 shares of the company’s stock valued at $1,165,000 after buying an additional 179 shares during the last quarter. Finally, Bar Harbor Wealth Management purchased a new position in McKesson during the fourth quarter worth about $221,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Mizuho lifted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. UBS Group lifted their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $686.69.

McKesson Stock Up 0.1%

Shares of MCK stock opened at $687.93 on Wednesday. The company has a market cap of $86.22 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.48. The firm has a 50 day moving average of $680.08 and a 200-day moving average of $623.42.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. During the same period last year, the business earned $6.18 EPS. The business’s revenue was up 18.9% on a year-over-year basis. Analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Monday, June 2nd. McKesson’s payout ratio is currently 10.99%.

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.