Geneos Wealth Management Inc. Grows Stock Position in McKesson Co. (NYSE:MCK)

Geneos Wealth Management Inc. increased its position in shares of McKesson Co. (NYSE:MCKFree Report) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,144 shares of the company’s stock after purchasing an additional 61 shares during the quarter. Geneos Wealth Management Inc.’s holdings in McKesson were worth $652,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson in the third quarter worth about $29,000. Wolff Wiese Magana LLC lifted its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $602.94 on Wednesday. The firm has a market capitalization of $76.54 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm’s 50-day moving average is $592.41 and its two-hundred day moving average is $561.33.

McKesson (NYSE:MCKGet Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.23 EPS. Analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s payout ratio is 14.71%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent research reports. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Bank of America cut their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

Check Out Our Latest Stock Report on McKesson

About McKesson

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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