Lombard Odier Asset Management USA Corp trimmed its position in McKesson Corporation (NYSE:MCK – Free Report) by 31.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,584 shares of the company’s stock after selling 1,167 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in McKesson were worth $2,120,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Brighton Jones LLC grew its stake in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the period. Caxton Associates LLP purchased a new stake in shares of McKesson in the first quarter worth $233,000. Sivia Capital Partners LLC grew its stake in shares of McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after acquiring an additional 300 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of McKesson by 0.9% in the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after acquiring an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of McKesson in the second quarter worth $166,000. 85.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on MCK shares. Bank of America cut their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Wells Fargo & Company cut their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. cut their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $960.53.
McKesson Price Performance
Shares of NYSE:MCK opened at $786.55 on Wednesday. The company has a market cap of $92.09 billion, a P/E ratio of 20.45, a PEG ratio of 1.28 and a beta of 0.31. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The stock’s fifty day moving average price is $794.00 and its 200-day moving average price is $844.72.
McKesson (NYSE:MCK – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.
McKesson Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued 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 of this dividend is Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.
Insiders Place Their Bets
In other news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 4,929 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $763.00, for a total value of $3,760,827.00. Following the transaction, the chief executive officer directly owned 22,845 shares in the company, valued at approximately $17,430,735. The trade was a 17.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 11,822 shares of company stock valued at $8,986,212. Company insiders own 0.08% of the company’s stock.
McKesson Company Profile
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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