McKesson Corporation $MCK Stake Increased by Elyxium Wealth LLC

Elyxium Wealth LLC increased its stake in McKesson Corporation (NYSE:MCK) by 19.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 493 shares of the company’s stock after buying an additional 80 shares during the period. Elyxium Wealth LLC’s holdings in McKesson were worth $361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings in McKesson by 22.0% in the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after purchasing an additional 68,294 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in McKesson in the first quarter worth about $289,000. Archford Capital Strategies LLC lifted its holdings in McKesson by 151.8% in the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock worth $1,668,000 after purchasing an additional 1,372 shares during the period. LPL Financial LLC lifted its holdings in McKesson by 12.8% in the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after acquiring an additional 17,750 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in McKesson by 3.3% in the 1st quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock valued at $48,159,000 after acquiring an additional 2,283 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped 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. Bank of America upped their price target on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Evercore ISI upped their price target on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, Leerink Partners upped their price target on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $839.15.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,189 shares of company stock worth $16,722,190 in the last quarter. 0.08% of the stock is owned by corporate insiders.

McKesson Trading Up 1.1%

NYSE MCK opened at $820.42 on Tuesday. The stock’s 50-day moving average price is $744.21 and its two-hundred day moving average price is $720.04. The company has a market cap of $102.05 billion, a PE ratio of 32.71, a PEG ratio of 1.46 and a beta of 0.52. McKesson Corporation has a 1 year low of $520.20 and a 1 year high of $846.32.

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

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 13.08%.

About McKesson

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.