Scientech Research LLC Makes New $505,000 Investment in McKesson Co. (NYSE:MCK)

Scientech Research LLC acquired a new stake in McKesson Co. (NYSE:MCK) during the second quarter, HoldingsChannel.com reports. The fund acquired 864 shares of the company’s stock, valued at approximately $505,000.

A number of other hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its stake in shares of McKesson by 30.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,670 shares of the company’s stock valued at $773,000 after purchasing an additional 386 shares during the period. Alberta Investment Management Corp boosted its holdings in shares of McKesson by 22.2% during the 4th quarter. Alberta Investment Management Corp now owns 3,300 shares of the company’s stock worth $1,528,000 after buying an additional 600 shares in the last quarter. Carolinas Wealth Consulting LLC grew its position in shares of McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after buying an additional 24 shares during the period. California State Teachers Retirement System increased its stake in shares of McKesson by 1.0% in the 4th quarter. California State Teachers Retirement System now owns 219,507 shares of the company’s stock valued at $101,627,000 after acquiring an additional 2,215 shares in the last quarter. Finally, APG Asset Management US Inc. acquired a new position in shares of McKesson during the 4th quarter valued at $15,560,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Leerink Partners reduced their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Bank of America upped their price target on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Evercore ISI reduced their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Argus lifted their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $613.36.

McKesson Stock Performance

McKesson stock opened at $488.25 on Monday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The firm’s 50-day simple moving average is $550.84 and its 200 day simple moving average is $555.82. The stock has a market cap of $63.44 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

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

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.58%. 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%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 11,259 shares of company stock worth $6,635,492. 0.11% of the stock is owned by company insiders.

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.