Transcend Capital Advisors LLC Grows Holdings in McKesson Corporation $MCK

Transcend Capital Advisors LLC lifted its holdings in McKesson Corporation (NYSE:MCK) by 12.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,304 shares of the company’s stock after acquiring an additional 143 shares during the quarter. Transcend Capital Advisors LLC’s holdings in McKesson were worth $956,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Solstein Capital LLC grew its position in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the last quarter. Bank of Jackson Hole Trust grew its position in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after purchasing an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its position in McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. GFG Capital LLC purchased a new stake in McKesson during the 2nd quarter valued at about $30,000. Finally, Saudi Central Bank purchased a new stake in McKesson during the 1st quarter valued at about $34,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Mizuho raised their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. raised their price target on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Cowen reaffirmed a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Morgan Stanley raised their price target on shares of McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Finally, UBS Group raised their price target on shares of McKesson from $860.00 to $920.00 and gave the company a “buy” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $839.15.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,189 shares of company stock valued at $16,722,190 over the last three months. 0.08% of the stock is currently owned by insiders.

McKesson Stock Down 0.7%

Shares of NYSE:MCK opened at $806.13 on Wednesday. The firm’s 50 day moving average price is $734.38 and its 200-day moving average price is $716.40. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $812.69. The stock has a market capitalization of $100.27 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 1.46 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter last year, the company earned $7.88 EPS. McKesson’s revenue for the quarter was up 23.4% on a year-over-year basis. Analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

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.