Bailard Inc. Purchases 192 Shares of McKesson Corporation $MCK

Bailard Inc. raised its position in McKesson Corporation (NYSE:MCK) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,235 shares of the company’s stock after purchasing an additional 192 shares during the quarter. Bailard Inc.’s holdings in McKesson were worth $1,638,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Acadian Asset Management LLC raised its position in McKesson by 22.0% during the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after purchasing an additional 68,294 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of McKesson during the 1st quarter worth $289,000. Archford Capital Strategies LLC increased its stake in shares of McKesson by 151.8% during the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after buying an additional 1,372 shares during the period. Lynwood Price Capital Management LP raised its holdings in shares of McKesson by 18.3% in the second quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock valued at $18,906,000 after acquiring an additional 4,000 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in McKesson by 12.8% in the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock worth $104,950,000 after acquiring an additional 17,750 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.6%

NYSE MCK opened at $846.21 on Friday. The firm’s fifty day simple moving average is $770.40 and its two-hundred day simple moving average is $728.44. The firm has a market capitalization of $104.45 billion, a P/E ratio of 33.74, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $867.63.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter last year, the firm earned $7.07 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. 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 payout ratio is presently 10.21%.

Insider Activity

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 transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on MCK shares. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Jefferies Financial Group lifted their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. UBS Group upped their target price on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Leerink Partners increased their target price on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company boosted their price target on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $887.69.

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.