Danica Pension Livsforsikringsaktieselskab Has $63.49 Million Stake in McKesson Corporation $MCK

Danica Pension Livsforsikringsaktieselskab lowered its holdings in McKesson Corporation (NYSE:MCK) by 61.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,374 shares of the company’s stock after selling 118,772 shares during the period. McKesson comprises about 1.2% of Danica Pension Livsforsikringsaktieselskab’s portfolio, making the stock its 17th largest holding. Danica Pension Livsforsikringsaktieselskab owned 0.06% of McKesson worth $63,495,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of McKesson during the 4th quarter worth about $1,651,137,000. Swedbank AB increased its position in shares of McKesson by 42.2% in the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after acquiring an additional 263,189 shares during the last quarter. SurgoCap Partners LP increased its position in shares of McKesson by 68.7% in the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after acquiring an additional 184,106 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock worth $354,839,000 after acquiring an additional 183,590 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in McKesson by 32.9% during the third quarter. Wellington Management Group LLP now owns 618,984 shares of the company’s stock worth $478,190,000 after acquiring an additional 153,182 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. The trade was a 23.56% 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. 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 have sold a total of 28,748 shares of company stock worth $22,262,035 in the last quarter. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MCK. William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Bank of America dropped their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Finally, Wells Fargo & Company lowered their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $959.00.

McKesson Stock Performance

McKesson stock opened at $828.08 on Wednesday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The stock has a market capitalization of $96.95 billion, a P/E ratio of 21.53, a PEG ratio of 1.37 and a beta of 0.31. The stock has a 50-day simple moving average of $775.33 and a 200 day simple moving average of $838.48.

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

McKesson Company 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.