Aviso Wealth Management Takes $340,000 Position in McKesson Co. (NYSE:MCK)

Aviso Wealth Management acquired a new stake in McKesson Co. (NYSE:MCK) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 582 shares of the company’s stock, valued at approximately $340,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ascent Group LLC lifted its stake in shares of McKesson by 2.8% during the 2nd quarter. Ascent Group LLC now owns 5,705 shares of the company’s stock worth $3,332,000 after buying an additional 154 shares during the last quarter. Driehaus Capital Management LLC lifted its stake in shares of McKesson by 46.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,415 shares of the company’s stock worth $826,000 after buying an additional 452 shares during the last quarter. Ninepoint Partners LP acquired a new stake in shares of McKesson during the 2nd quarter worth about $701,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of McKesson during the 2nd quarter worth about $6,397,000. Finally, Scientech Research LLC acquired a new stake in shares of McKesson during the 2nd quarter worth about $505,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MCK. Argus raised their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Citigroup dropped their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $613.36.

McKesson Stock Up 1.9 %

MCK stock opened at $488.25 on Friday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The firm has a market cap of $63.44 billion, a P/E ratio of 21.82, a P/E/G ratio of 1.18 and a beta of 0.44. The company’s 50-day moving average price is $550.84 and its two-hundred day moving average price is $555.57.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same period last year, the firm earned $7.27 EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts predict that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.58%. McKesson’s payout ratio is 12.69%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the sale, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is owned by insiders.

About McKesson

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.