McKesson Co. (NYSE:MCK) Shares Purchased by Graypoint LLC

Graypoint LLC raised its stake in McKesson Co. (NYSE:MCK) by 14.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 781 shares of the company’s stock after purchasing an additional 99 shares during the quarter. Graypoint LLC’s holdings in McKesson were worth $362,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MCK. AlphaQ Advisors LLC boosted its stake in shares of McKesson by 4.9% during the 4th quarter. AlphaQ Advisors LLC now owns 2,049 shares of the company’s stock worth $949,000 after purchasing an additional 96 shares during the last quarter. Ingalls & Snyder LLC increased its stake in shares of McKesson by 2.4% during the 4th quarter. Ingalls & Snyder LLC now owns 9,010 shares of the company’s stock valued at $4,171,000 after acquiring an additional 207 shares during the last quarter. Keystone Financial Services lifted its holdings in shares of McKesson by 2.1% during the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after acquiring an additional 24 shares during the period. Highview Capital Management LLC DE purchased a new stake in McKesson in the fourth quarter valued at approximately $1,103,000. Finally, Cornerstone Wealth Group LLC raised its stake in McKesson by 7.7% during the fourth quarter. Cornerstone Wealth Group LLC now owns 575 shares of the company’s stock worth $266,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Down 0.1 %

NYSE MCK opened at $523.01 on Monday. The firm’s fifty day simple moving average is $523.05 and its 200-day simple moving average is $483.96. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $543.00. The company has a market capitalization of $68.73 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45.

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

McKesson Announces Dividend

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

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research firms recently commented on MCK. Citigroup raised their price target on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, February 8th. SVB Leerink began coverage on McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective on the stock. Argus boosted their price target on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Mizuho raised their price target on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, UBS Group raised their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $528.64.

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.