Rhenman & Partners Asset Management AB Reduces Stake in McKesson Corporation $MCK

Rhenman & Partners Asset Management AB lowered its holdings in McKesson Corporation (NYSE:MCK) by 3.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,600 shares of the company’s stock after selling 1,000 shares during the period. McKesson accounts for approximately 2.0% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 13th biggest holding. Rhenman & Partners Asset Management AB’s holdings in McKesson were worth $20,999,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GGM Financials LLC purchased a new stake in McKesson in the 3rd quarter worth approximately $25,000. Swiss RE Ltd. purchased a new stake in McKesson in the 4th quarter worth approximately $26,000. State of Wyoming purchased a new stake in McKesson in the 2nd quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in McKesson in the 3rd quarter worth approximately $33,000. Finally, Board of the Pension Protection Fund purchased a new stake in McKesson in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 4,929 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the completion of the transaction, the chief executive officer owned 22,845 shares of the company’s stock, valued at $17,430,735. This trade represents a 17.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This trade represents a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 11,822 shares of company stock worth $8,986,212 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Down 0.4%

MCK opened at $783.88 on Friday. The stock has a market cap of $94.22 billion, a PE ratio of 20.38, a PEG ratio of 1.30 and a beta of 0.31. The business has a 50 day moving average of $798.10 and a 200-day moving average of $846.35. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is 8.53%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MCK shares. William Blair started coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Citigroup dropped their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Barclays dropped their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group raised their target price on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Bank of America lowered their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $960.53.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.