Bellevue Group AG Acquires 9,886 Shares of McKesson Corporation $MCK

Bellevue Group AG raised its holdings in McKesson Corporation (NYSE:MCK) by 32.3% during the second quarter, HoldingsChannel reports. The firm owned 40,466 shares of the company’s stock after acquiring an additional 9,886 shares during the quarter. Bellevue Group AG’s holdings in McKesson were worth $29,653,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Solstein Capital LLC boosted its stake in McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after buying an additional 24 shares in the last quarter. GFG Capital LLC acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $30,000. Saudi Central Bank bought a new stake in shares of McKesson during the 1st quarter valued at approximately $34,000. Flaharty Asset Management LLC acquired a new position in McKesson during the 1st quarter worth approximately $39,000. Finally, Loomis Sayles & Co. L P bought a new position in McKesson in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $814.16 on Friday. The stock’s 50 day moving average is $820.19 and its 200 day moving average is $748.12. McKesson Corporation has a one year low of $558.13 and a one year high of $895.58. The firm has a market cap of $100.49 billion, a P/E ratio of 25.34, a P/E/G ratio of 1.34 and a beta of 0.38.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $7.07 EPS. Equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is presently 10.21%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MCK shares. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. TD Cowen boosted their price objective on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Jefferies Financial Group upped their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a research note on Monday. Finally, Robert W. Baird boosted their price target on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $892.86.

About McKesson

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.