Signition LP bought a new position in McKesson Co. (NYSE:MCK) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,598 shares of the company’s stock, valued at approximately $347,000.
A number of other large investors have also modified their holdings of MCK. FDx Advisors Inc. raised its position in McKesson by 23.8% in the 1st quarter. FDx Advisors Inc. now owns 26,140 shares of the company’s stock worth $3,682,000 after purchasing an additional 5,020 shares during the period. Wells Fargo & Company MN raised its position in McKesson by 13.3% in the 1st quarter. Wells Fargo & Company MN now owns 1,859,883 shares of the company’s stock worth $262,000,000 after purchasing an additional 218,530 shares during the period. FTB Advisors Inc. raised its position in McKesson by 8.3% in the 1st quarter. FTB Advisors Inc. now owns 35,267 shares of the company’s stock worth $4,982,000 after purchasing an additional 2,688 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in McKesson by 269.8% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 37,234 shares of the company’s stock worth $5,215,000 after purchasing an additional 27,164 shares during the period. Finally, Fulton Bank N.A. raised its position in McKesson by 89.8% in the 1st quarter. Fulton Bank N.A. now owns 6,316 shares of the company’s stock worth $889,000 after purchasing an additional 2,989 shares during the period. Institutional investors own 90.91% of the company’s stock.
A number of brokerages recently commented on MCK. JPMorgan Chase & Co. decreased their target price on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $160.00 target price on shares of McKesson in a research report on Friday, July 27th. Royal Bank of Canada reiterated a “hold” rating and issued a $152.00 target price on shares of McKesson in a research report on Friday, July 27th. Robert W. Baird cut shares of McKesson from an “outperform” rating to a “neutral” rating in a research report on Friday, July 20th. Finally, Citigroup decreased their price objective on shares of McKesson from $160.00 to $2.86 and set a “buy” rating on the stock in a research report on Friday, July 20th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $157.18.
McKesson opened at $123.14 on Friday, Marketbeat reports. McKesson Co. has a 12-month low of $122.63 and a 12-month high of $178.86. The stock has a market capitalization of $24.75 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 1.31 and a beta of 1.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.57 and a current ratio of 1.00.
McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, July 26th. The company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.01. McKesson had a negative net margin of 0.18% and a positive return on equity of 25.19%. The firm had revenue of $52.61 billion for the quarter, compared to analysts’ expectations of $52.91 billion. During the same quarter in the previous year, the company earned $2.47 earnings per share. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. equities analysts predict that McKesson Co. will post 13.33 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be paid a dividend of $0.39 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.34. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.27%. McKesson’s payout ratio is presently 10.78%.
In other news, SVP Erin M. Lampert sold 868 shares of McKesson stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $142.00, for a total transaction of $123,256.00. Following the sale, the senior vice president now owns 64 shares of the company’s stock, valued at approximately $9,088. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.87% of the company’s stock.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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