Union Bancaire Privee UBP SA raised its stake in McKesson Corporation (NYSE:MCK – Free Report) by 1,641.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,184 shares of the company’s stock after buying an additional 37,876 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in McKesson were worth $32,882,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of MCK. Norges Bank bought a new position in McKesson in the fourth quarter valued at $1,651,137,000. Swedbank AB lifted its position in shares of 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 last quarter. SurgoCap Partners LP boosted its position in McKesson by 68.7% during the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock worth $349,390,000 after purchasing an additional 184,106 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in McKesson by 73.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after buying an additional 183,590 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in shares of McKesson during the third quarter worth approximately $135,352,000. 85.07% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction that occurred on 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,285 shares of company stock valued at $15,546,137 in the last ninety days. 0.06% of the stock is owned by corporate insiders.
McKesson Stock Up 0.1%
McKesson (NYSE:MCK – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the previous year, the business earned $10.12 earnings per share. McKesson’s revenue for the quarter was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.
McKesson Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 8.53%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Raymond James Financial set a $970.00 price target on shares of McKesson in a report on Thursday, March 5th. Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. JPMorgan Chase & Co. reduced their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, UBS Group boosted their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $960.53.
View Our Latest Analysis on MCK
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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