Bridgewater Advisors Inc. purchased a new position in shares of McKesson Corporation (NYSE:MCK – Free Report) in the second quarter, HoldingsChannel.com reports. The fund purchased 627 shares of the company’s stock, valued at approximately $504,000.
A number of other institutional investors have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson in the fourth quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in shares of McKesson during the 4th quarter worth about $26,000. State of Wyoming acquired a new position in shares of McKesson during the 2nd quarter worth about $29,000. Kingdom Financial Group LLC. bought a new stake in shares of McKesson in the 4th quarter valued at about $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of McKesson in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.
Wall Street Analyst Weigh In
MCK has been the topic of a number of analyst reports. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Weiss Ratings lowered shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Finally, TD Cowen boosted their price target on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $977.00.
Insider Buying and Selling
In related news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is owned by corporate insiders.
McKesson Price Performance
NYSE MCK opened at $868.72 on Friday. The firm has a market cap of $101.28 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.71 and a beta of 0.30. The stock’s 50-day moving average is $813.45 and its 200-day moving average is $842.81. McKesson Corporation has a one year low of $667.50 and a one year high of $999.00.
McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same period in the previous year, the firm earned $8.26 EPS. McKesson’s quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities analysts anticipate that McKesson Corporation will post 44.65 EPS for the current year.
McKesson Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is presently 8.78%.
McKesson 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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