McKesson Co. (NYSE:MCK) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC lowered its position in shares of McKesson Co. (NYSE:MCK) by 3.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,711 shares of the company’s stock after selling 111 shares during the quarter. Integrated Advisors Network LLC’s holdings in McKesson were worth $1,340,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Swedbank AB acquired a new stake in McKesson during the 1st quarter worth about $669,326,000. International Assets Investment Management LLC raised its stake in shares of McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after acquiring an additional 734,849 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of McKesson by 3,621.7% in the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after acquiring an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new position in shares of McKesson in the 1st quarter valued at approximately $97,510,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of McKesson by 581.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock valued at $74,776,000 after acquiring an additional 129,031 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MCK. Citigroup lowered their target price on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 price target (down previously from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays lifted their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Leerink Partners cut their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Price Performance

Shares of NYSE:MCK opened at $499.39 on Thursday. The company has a market capitalization of $64.89 billion, a P/E ratio of 22.31, a P/E/G 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. The business’s 50 day simple moving average is $513.72 and its 200 day simple moving average is $550.56.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share 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 firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter last year, the business posted $7.27 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that McKesson Co. will post 31.91 EPS for the current fiscal year.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is currently 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.