American Institute for Advanced Investment Management LLP bought a new stake in McKesson Corporation (NYSE:MCK – Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,600 shares of the company’s stock, valued at approximately $1,385,000.
Several other hedge funds have also bought and sold shares of MCK. Norges Bank bought a new position in McKesson during the fourth quarter worth about $1,651,137,000. Swedbank AB raised its stake in McKesson by 42.2% in the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after buying an additional 263,189 shares during the period. SurgoCap Partners LP lifted its position in shares of McKesson by 68.7% in the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after buying an additional 184,106 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of McKesson by 73.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock worth $354,839,000 after acquiring an additional 183,590 shares during the period. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in shares of McKesson during the 3rd quarter worth approximately $135,352,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.
McKesson Trading Up 1.3%
Shares of NYSE MCK opened at $757.38 on Wednesday. The firm has a market cap of $88.67 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 1.23 and a beta of 0.31. The business’s 50 day moving average is $772.99 and its 200-day moving average is $839.87. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00.
McKesson Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s payout ratio is presently 8.53%.
Insider Buying and Selling at McKesson
In related news, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the transaction, the chief executive officer directly owned 14,382 shares in the company, valued at approximately $11,147,919.66. This represents a 37.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 20,285 shares of company stock worth $15,546,137. Insiders own 0.06% of the company’s stock.
Key Stories Impacting McKesson
Here are the key news stories impacting McKesson this week:
- Positive Sentiment: TempraMed expanded its partnership with McKesson Medical-Surgical to distribute its full portfolio across North America, adding temperature-controlled medication solutions to McKesson’s medical-surgical marketplace and potentially enhancing its healthcare provider offering. McKesson (MCK) Expands TempraMed Partnership Across North America For Full Portfolio Distribution
- Positive Sentiment: Momentum-focused commentary from Zacks characterized McKesson as a strong momentum stock, reinforcing a favorable technical and sentiment backdrop for the shares. Here’s Why McKesson (MCK) is a Strong Momentum Stock
- Positive Sentiment: Several bullish writeups highlighted McKesson’s valuation and earnings profile, suggesting some investors still view the stock as attractive despite recent volatility. Is McKesson Corporation (MCK) A Good Stock To Buy Now?
- Positive Sentiment: Another article pointed to three reasons to like McKesson, including its business quality and longer-term fundamentals, which may help support investor confidence. 3 Reasons We Love McKesson (MCK)
- Neutral Sentiment: Recent coverage also noted that McKesson had been trading lower in the prior session and remains below its recent highs, reflecting ongoing pressure from softer quarterly results and broader profit-taking. McKesson (MCK) Stock Falls Amid Market Uptick: What Investors Need to Know
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Raymond James Financial set a $970.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $960.53.
Check Out Our Latest Analysis on MCK
About McKesson
McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.
The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.
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