Integral Health Asset Management LLC Takes Position in McKesson Co. (NYSE:MCK)

Integral Health Asset Management LLC acquired a new stake in shares of McKesson Co. (NYSE:MCK) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 20,000 shares of the company’s stock, valued at approximately $11,681,000. McKesson makes up about 1.1% of Integral Health Asset Management LLC’s portfolio, making the stock its 28th largest holding.

A number of other hedge funds have also recently made changes to their positions in MCK. Swedbank AB bought a new position in shares of McKesson during the first quarter valued at about $669,326,000. TD Asset Management Inc lifted its position in shares of McKesson by 202.8% during the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after purchasing an additional 403,312 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of McKesson by 3,621.7% during the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after purchasing an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new position in shares of McKesson during the first quarter valued at about $97,510,000. Finally, Third Point LLC bought a new position in shares of McKesson during the fourth quarter valued at about $76,392,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 0.0 %

NYSE MCK opened at $508.00 on Monday. The company’s 50 day moving average is $560.25 and its 200-day moving average is $557.24. 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 $66.01 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.27 earnings per share. Equities analysts expect that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, August 30th. 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. McKesson’s payout ratio is currently 12.69%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 11,259 shares of company stock valued at $6,635,492. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Citigroup lowered their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Robert W. Baird lowered their price objective on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Mizuho lifted their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Argus lifted their price objective 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $620.93.

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.