McKesson Co. (NYSE:MCK) Shares Acquired by FineMark National Bank & Trust

FineMark National Bank & Trust boosted its stake in McKesson Co. (NYSE:MCK) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 713 shares of the company’s stock after purchasing an additional 28 shares during the period. FineMark National Bank & Trust’s holdings in McKesson were worth $416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management lifted its position in McKesson by 15.8% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the company’s stock valued at $271,000 after purchasing an additional 80 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of McKesson during the fourth quarter worth approximately $230,000. Wealthspire Advisors LLC grew its holdings in McKesson by 40.6% in the 4th quarter. Wealthspire Advisors LLC now owns 1,604 shares of the company’s stock worth $742,000 after buying an additional 463 shares in the last quarter. Principal Securities Inc. acquired a new stake in McKesson in the 4th quarter valued at approximately $1,418,000. Finally, Kinsale Capital Group Inc. raised its stake in McKesson by 26.0% during the 4th quarter. Kinsale Capital Group Inc. now owns 6,445 shares of the company’s stock valued at $2,984,000 after acquiring an additional 1,330 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Leerink Partners decreased their price target on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research note on Thursday. Robert W. Baird lowered their target price on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Argus boosted their price target on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Citigroup increased their price objective on shares of McKesson from $620.00 to $670.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, JPMorgan Chase & Co. boosted their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $624.93.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the sale, the executive vice president now owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 86,092 shares in the company, valued at approximately $50,012,564.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 600 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the transaction, the executive vice president now owns 2,022 shares in the company, valued at $1,183,941.66. The disclosure for this sale can be found here. Insiders have sold a total of 11,859 shares of company stock valued at $6,986,810 in the last three months. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Down 2.1 %

Shares of McKesson stock opened at $504.17 on Friday. McKesson Co. has a 12-month low of $412.64 and a 12-month high of $637.51. The firm has a market capitalization of $65.51 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.44. The stock’s fifty day moving average is $574.75 and its 200-day moving average is $557.29.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion during 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%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $7.27 earnings per share. Analysts expect that McKesson Co. will post 32.14 EPS for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s payout ratio is presently 12.69%.

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.