TrinityBridge Ltd grew its stake in shares of McKesson Corporation (NYSE:MCK – Free Report) by 43.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 50,445 shares of the company’s stock after purchasing an additional 15,240 shares during the quarter. McKesson accounts for about 1.3% of TrinityBridge Ltd’s holdings, making the stock its 25th biggest holding. TrinityBridge Ltd’s holdings in McKesson were worth $43,115,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Associated Banc Corp purchased a new stake in McKesson during the 3rd quarter worth approximately $202,000. Putney Financial Group LLC acquired a new position in McKesson during the 3rd quarter valued at approximately $181,000. Integrity Advisory Solutions LLC raised its holdings in shares of McKesson by 15.6% in the third quarter. Integrity Advisory Solutions LLC now owns 312 shares of the company’s stock worth $267,000 after buying an additional 42 shares during the last quarter. First Nebraska Trust Co purchased a new position in shares of McKesson in the third quarter worth $713,000. Finally, Challenger Wealth Management purchased a new position in shares of McKesson in the third quarter worth $429,000. 85.07% of the stock is owned by hedge funds and other institutional investors.
McKesson Price Performance
NYSE:MCK opened at $1,001.68 on Wednesday. The firm has a market capitalization of $116.79 billion, a P/E ratio of 26.80, a PEG ratio of 1.99 and a beta of 0.27. McKesson Corporation has a 1-year low of $723.68 and a 1-year high of $1,030.27. The company’s fifty day moving average price is $927.87 and its 200-day moving average price is $864.61.
McKesson (NYSE:MCK – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the previous year, the firm posted $8.26 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts anticipate that McKesson Corporation will post 44.71 EPS for the current fiscal year.
McKesson Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be paid a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.06%.
Insider Buying and Selling at McKesson
In other news, EVP Francisco Fraga sold 800 shares of the company’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $995.80, for a total value of $796,640.00. Following the sale, the executive vice president owned 5,423 shares in the company, valued at $5,400,223.40. This represents a 12.86% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer directly owned 521 shares in the company, valued at approximately $464,445.45. This trade represents a 17.56% 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 quarter, insiders sold 1,212 shares of company stock worth $1,164,182. Insiders own 0.06% of the company’s stock.
Trending Headlines about McKesson
Here are the key news stories impacting McKesson this week:
- Positive Sentiment: Analyst recommendations are broadly optimistic, which may support sentiment, although the article cautions that brokerage ratings can be overly positive and are not a reliable buy signal on their own. Wall Street Bulls Look Optimistic About McKesson
- Neutral Sentiment: Previews say the upcoming earnings report will test whether prescription volumes, specialty distribution and oncology growth can sustain profit growth. Strong demand could help offset pressure from branded-drug pricing, but investors are awaiting results for confirmation. Will MCK’s Pharma & Specialty Demand Offset Pricing Headwind in Q2?
- Negative Sentiment: Branded-drug pricing pressure is a potential earnings headwind. If it outweighs volume and specialty-drug growth, results could disappoint investors focused on profit growth. Will MCK’s Pharma & Specialty Demand Offset Pricing Headwind in Q2?
Analyst Ratings Changes
Several equities research analysts have recently commented on MCK shares. Wells Fargo & Company lifted their price objective on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Evercore reissued an “outperform” rating and issued a $950.00 target price (down from $1,000.00) on shares of McKesson in a research report on Thursday, August 6th. Royal Bank Of Canada restated a “sector perform” rating and issued a $845.00 target price on shares of McKesson in a research note on Monday, September 14th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. Fifteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $997.12.
Read Our Latest Research Report on MCK
McKesson Profile
McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.
McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.
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