Profund Advisors LLC raised its position in McKesson Co. (NYSE:MCK) by 23.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,010 shares of the company’s stock after purchasing an additional 1,316 shares during the period. Profund Advisors LLC’s holdings in McKesson were worth $1,093,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Icon Wealth Partners LLC acquired a new stake in McKesson during the 4th quarter worth approximately $111,000. Wealthcare Advisory Partners LLC acquired a new stake in McKesson during the 3rd quarter worth approximately $155,000. Focused Wealth Management Inc grew its position in McKesson by 650.0% in the fourth quarter. Focused Wealth Management Inc now owns 1,200 shares of the company’s stock valued at $187,000 after acquiring an additional 1,040 shares in the last quarter. Aries Wealth Management acquired a new stake in McKesson in the fourth quarter valued at approximately $218,000. Finally, Community Financial Services Group LLC acquired a new stake in McKesson in the fourth quarter valued at approximately $204,000. Institutional investors own 88.65% of the company’s stock.
MCK has been the subject of several recent research reports. Zacks Investment Research raised shares of McKesson from a “hold” rating to a “buy” rating and set a $177.00 price objective for the company in a research report on Tuesday, December 26th. ValuEngine cut McKesson from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Evercore ISI began coverage on McKesson in a research note on Thursday, January 4th. They set an “outperform” rating and a $179.00 target price for the company. Robert W. Baird reiterated a “buy” rating and set a $200.00 target price on shares of McKesson in a research note on Wednesday, January 17th. Finally, Needham & Company LLC raised their price objective on McKesson from $173.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. McKesson presently has a consensus rating of “Hold” and an average price target of $176.74.
NYSE:MCK opened at $139.71 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.61 and a debt-to-equity ratio of 0.63. McKesson Co. has a 52-week low of $133.82 and a 52-week high of $178.86. The stock has a market cap of $29,166.06, a P/E ratio of 12.03, a PEG ratio of 1.26 and a beta of 1.32.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, February 1st. The company reported $3.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.49. McKesson had a return on equity of 22.98% and a net margin of 2.34%. The business had revenue of $53.62 billion during the quarter, compared to analyst estimates of $51.98 billion. During the same quarter last year, the company posted $3.04 EPS. McKesson’s revenue for the quarter was up 7.0% on a year-over-year basis. sell-side analysts anticipate that McKesson Co. will post 12.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 1st were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $1.36 dividend on an annualized basis and a yield of 0.97%. McKesson’s payout ratio is presently 11.71%.
In other McKesson news, SVP Erin M. Lampert sold 1,413 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $149.38, for a total transaction of $211,073.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.
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McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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