Profund Advisors LLC Sells 117 Shares of McKesson Corporation $MCK

Profund Advisors LLC trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 6.8% during the second quarter, HoldingsChannel.com reports. The firm owned 1,598 shares of the company’s stock after selling 117 shares during the period. Profund Advisors LLC’s holdings in McKesson were worth $1,171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC increased its stake in shares of McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after acquiring an additional 68,294 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in McKesson in the first quarter worth $289,000. Lynwood Price Capital Management LP increased its stake in 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 purchasing an additional 4,000 shares in the last quarter. Archford Capital Strategies LLC raised its holdings 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 purchasing an additional 1,372 shares during the period. Finally, Focus Partners Wealth raised its holdings in shares of McKesson by 3.3% during the first quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock valued at $48,159,000 after purchasing an additional 2,283 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

NYSE:MCK opened at $855.78 on Wednesday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $867.63. The firm has a 50-day moving average price of $764.28 and a two-hundred day moving average price of $726.81. The firm has a market cap of $106.44 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $7.07 earnings per share. As a group, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current 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 paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s payout ratio is presently 10.21%.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 24,189 shares of company stock worth $16,787,319 over the last three months. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MCK. Wells Fargo & Company boosted their target price on McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research report on Monday. Evercore ISI restated an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a report on Thursday, November 6th. JPMorgan Chase & Co. upped their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. UBS Group lifted their price target on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Morgan Stanley upped their price objective on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $887.69.

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.