Assenagon Asset Management S.A. boosted its stake in McKesson Corporation (NYSE:MCK) by 435.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,026 shares of the company’s stock after buying an additional 13,033 shares during the period. Assenagon Asset Management S.A.’s holdings in McKesson Corporation were worth $2,462,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in MCK. IHT Wealth Management LLC increased its position in shares of McKesson Corporation by 64.2% during the second quarter. IHT Wealth Management LLC now owns 486 shares of the company’s stock valued at $1,027,000 after acquiring an additional 190 shares in the last quarter. Captrust Financial Advisors bought a new stake in McKesson Corporation in the 2nd quarter worth approximately $107,000. American Beacon Advisors Inc. bought a new stake in McKesson Corporation in the 1st quarter worth approximately $100,000. Orrstown Financial Services Inc. grew its position in McKesson Corporation by 6.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock worth $124,000 after purchasing an additional 43 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in McKesson Corporation in the 2nd quarter worth approximately $125,000. Hedge funds and other institutional investors own 85.95% of the company’s stock.
McKesson Corporation (MCK) traded down $2.50 during midday trading on Friday, hitting $137.61. 2,088,200 shares of the company’s stock were exchanged, compared to its average volume of 1,841,100. The stock has a market capitalization of $29,209.36, a PE ratio of 11.52, a P/E/G ratio of 1.44 and a beta of 1.21. McKesson Corporation has a fifty-two week low of $133.82 and a fifty-two week high of $169.29. The company has a current ratio of 1.05, a quick ratio of 0.61 and a debt-to-equity ratio of 0.66.
McKesson Corporation (NYSE:MCK) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.50. The firm had revenue of $52.06 billion for the quarter, compared to analyst estimates of $51.69 billion. McKesson Corporation had a net margin of 2.24% and a return on equity of 24.87%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.94 earnings per share. sell-side analysts forecast that McKesson Corporation will post 12.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 annualized dividend and a yield of 0.99%. McKesson Corporation’s dividend payout ratio is presently 6.45%.
In other news, CEO John H. Hammergren sold 125,000 shares of McKesson Corporation stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $150.18, for a total value of $18,772,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director M Christine Jacobs sold 1,083 shares of McKesson Corporation stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $145.43, for a total transaction of $157,500.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 950,983 shares of company stock worth $145,560,946. 1.20% of the stock is owned by company insiders.
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A number of equities research analysts have recently issued reports on MCK shares. Needham & Company LLC set a $179.00 target price on shares of McKesson Corporation and gave the company a “buy” rating in a research note on Monday, October 16th. Jefferies Group LLC upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a research note on Thursday, July 27th. Vetr cut shares of McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price target on the stock. in a research note on Monday, July 17th. ValuEngine upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, TheStreet cut shares of McKesson Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $174.27.
McKesson Corporation Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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