8,295 Shares in McKesson Co. (NYSE:MCK) Purchased by Meridiem Capital Partners LP

Meridiem Capital Partners LP bought a new position in shares of McKesson Co. (NYSE:MCK) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 8,295 shares of the company’s stock, valued at approximately $4,727,000.

Other hedge funds have also modified their holdings of the company. NDVR Inc. lifted its stake in shares of McKesson by 3.5% in the 4th quarter. NDVR Inc. now owns 627 shares of the company’s stock valued at $357,000 after purchasing an additional 21 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in McKesson by 21.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,959 shares of the company’s stock worth $13,654,000 after purchasing an additional 4,299 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new position in McKesson during the 4th quarter worth approximately $182,861,000. LRI Investments LLC boosted its position in McKesson by 24.9% during the 4th quarter. LRI Investments LLC now owns 256 shares of the company’s stock worth $146,000 after acquiring an additional 51 shares during the last quarter. Finally, Integral Health Asset Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at approximately $19,947,000. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,110 shares of company stock worth $10,855,706. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent analyst reports. Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Morgan Stanley raised their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. UBS Group raised their price target on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $686.69.

McKesson Stock Down 0.9%

Shares of MCK opened at $686.92 on Tuesday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.48. The business’s fifty day moving average is $679.17 and its 200 day moving average is $622.97. The stock has a market cap of $86.09 billion, a P/E ratio of 31.45, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. During the same period last year, the business earned $6.18 EPS. McKesson’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.41%. The ex-dividend date is Monday, June 2nd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.