2,550 McKesson Corporation $MCK Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in McKesson Corporation (NYSE:MCK) by 2.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 98,944 shares of the company’s stock after acquiring an additional 2,550 shares during the quarter. Pictet Asset Management Holding SA’s holdings in McKesson were worth $84,497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MCK. Secure Asset Management LLC boosted its stake in shares of McKesson by 484.8% during the second quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock worth $1,604,000 after buying an additional 1,760 shares during the period. BayBridge Capital Group LLC increased its position in McKesson by 268.0% in the 2nd quarter. BayBridge Capital Group LLC now owns 1,943 shares of the company’s stock valued at $1,468,000 after acquiring an additional 1,415 shares during the period. Royal London Asset Management Ltd. increased its position in McKesson by 1.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company’s stock valued at $84,809,000 after acquiring an additional 1,216 shares during the period. Benchmark Investment Advisors LLC purchased a new stake in McKesson during the 2nd quarter valued at approximately $441,000. Finally, Summit Global Investments purchased a new stake in McKesson during the 2nd quarter valued at approximately $1,159,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Down 0.1%

NYSE MCK opened at $1,059.43 on Tuesday. The stock has a market capitalization of $123.52 billion, a P/E ratio of 27.24, a P/E/G ratio of 2.13 and a beta of 0.27. McKesson Corporation has a 52-week low of $723.68 and a 52-week high of $1,121.50. The firm has a 50-day moving average price of $941.40 and a 200 day moving average price of $869.30.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $11.68 earnings per share for the quarter, beating analysts’ consensus estimates of $10.72 by $0.96. McKesson had a negative return on equity of 235.48% and a net margin of 1.12%. The company had revenue of $110.96 billion for the quarter, compared to analyst estimates of $109.90 billion. During the same quarter in the previous year, the company earned $9.86 EPS. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that McKesson Corporation will post 46.21 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 1st. McKesson’s dividend payout ratio (DPR) is currently 9.67%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MCK shares. Evercore reiterated an “outperform” rating and issued a $950.00 target price (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. Mizuho increased their price target on McKesson from $905.00 to $1,020.00 and gave the stock a “neutral” rating in a report on Tuesday, October 20th. Bank of America increased their price target on McKesson from $950.00 to $1,050.00 in a report on Thursday, August 6th. Finally, Leerink Partners lifted their price objective on shares of McKesson from $1,070.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,026.18.

Insider Buying and Selling

In related news, CAO B Jr sold 111 shares of McKesson stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer directly owned 521 shares in the company, valued at $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 650 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $1,102.96, for a total value of $716,924.00. Following the transaction, the executive vice president directly owned 4,414 shares in the company, valued at $4,868,465.44. This represents a 12.84% 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. Over the last 90 days, insiders sold 2,161 shares of company stock worth $2,242,515. Company insiders own 0.06% of the company’s stock.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers.

The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care.

Founded in 1833, McKesson serves customers primarily in the United States and Canada.