4,338 Shares in McKesson Co. (NYSE:MCK) Bought by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,338 shares of the company’s stock, valued at approximately $2,472,000.

Several other hedge funds also recently added to or reduced their stakes in MCK. Millstone Evans Group LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $28,000. Synergy Asset Management LLC purchased a new position in McKesson during the fourth quarter valued at approximately $32,000. Crews Bank & Trust acquired a new position in McKesson in the fourth quarter valued at approximately $33,000. Atala Financial Inc purchased a new stake in McKesson in the 4th quarter worth approximately $34,000. Finally, Graney & King LLC purchased a new stake in McKesson in the 4th quarter worth approximately $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on MCK. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Bank of America increased their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, UBS Group upped their price target on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $686.69.

McKesson Price Performance

Shares of NYSE:MCK opened at $682.20 on Thursday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.48. The firm has a market capitalization of $85.50 billion, a PE ratio of 31.24, a P/E/G ratio of 1.29 and a beta of 0.53. The business’s 50 day moving average price is $680.82 and its 200-day moving average price is $623.83.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. During the same quarter in the previous year, the company posted $6.18 EPS. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.42%. McKesson’s dividend payout ratio is presently 10.99%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by insiders.

McKesson Company 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.