Driehaus Capital Management LLC Grows Holdings in McKesson Co. (NYSE:MCK)

Driehaus Capital Management LLC increased its position in shares of McKesson Co. (NYSE:MCK) by 46.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,415 shares of the company’s stock after purchasing an additional 452 shares during the quarter. Driehaus Capital Management LLC’s holdings in McKesson were worth $826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MCK. RFP Financial Group LLC boosted its stake in McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after acquiring an additional 17 shares during the last quarter. Modera Wealth Management LLC boosted its stake in McKesson by 2.2% in the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after acquiring an additional 17 shares during the last quarter. Larson Financial Group LLC boosted its stake in McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after acquiring an additional 17 shares during the last quarter. First Western Trust Bank boosted its stake in McKesson by 2.0% in the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after acquiring an additional 18 shares during the last quarter. Finally, KCM Investment Advisors LLC boosted its stake in McKesson by 1.4% in the first quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock valued at $727,000 after acquiring an additional 19 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total value of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares of the company’s stock, valued at approximately $50,012,564.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 11,259 shares of company stock valued at $6,635,492 in the last quarter. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on MCK shares. StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Friday. Mizuho boosted their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Robert W. Baird restated a “neutral” rating and set a $531.00 price target (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Bank of America upped their price target on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, Barclays upped their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $613.36.

McKesson Trading Up 1.3 %

McKesson stock opened at $494.42 on Tuesday. The firm’s 50 day simple moving average is $549.07 and its 200 day simple moving average is $555.57. The firm has a market capitalization of $64.24 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.27 EPS. Research analysts forecast that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be issued a $0.71 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.57%. McKesson’s dividend payout ratio is presently 12.69%.

McKesson 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.