McKesson Co. (NYSE:MCK) Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in McKesson Co. (NYSE:MCK) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,582 shares of the company’s stock after buying an additional 119 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in McKesson were worth $3,973,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MCK. Keystone Financial Services boosted its stake in McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after purchasing an additional 24 shares during the period. Koshinski Asset Management Inc. boosted its stake in McKesson by 1.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock worth $1,023,000 after purchasing an additional 25 shares during the period. Austin Private Wealth LLC boosted its stake in McKesson by 2.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock worth $506,000 after purchasing an additional 27 shares during the period. Quent Capital LLC boosted its stake in McKesson by 2.2% in the 4th quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock worth $574,000 after purchasing an additional 27 shares during the period. Finally, Kanawha Capital Management LLC boosted its stake in McKesson by 4.7% in the 4th quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock worth $281,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of NYSE:MCK traded down $2.43 on Wednesday, hitting $525.92. 537,971 shares of the company were exchanged, compared to its average volume of 690,169. The company’s 50 day moving average price is $523.77 and its two-hundred day moving average price is $485.19. McKesson Co. has a one year low of $352.34 and a one year high of $543.00. The firm has a market capitalization of $69.11 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $6.90 earnings per share. Research analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.62 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is 11.24%.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday. Argus lifted their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Mizuho lifted their target price on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. SVB Leerink started coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Finally, UBS Group lifted their target price on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.