Isthmus Partners LLC Invests $504,000 in McKesson Co. (NYSE:MCK)

Isthmus Partners LLC acquired a new position in McKesson Co. (NYSE:MCK) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 1,020 shares of the company’s stock, valued at approximately $504,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. LRI Investments LLC purchased a new stake in shares of McKesson in the 1st quarter worth about $28,000. Wolff Wiese Magana LLC boosted its position in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the 3rd quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the 3rd quarter worth about $31,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the 3rd quarter worth about $40,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

NYSE MCK opened at $628.60 on Friday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a 50-day moving average of $542.22 and a 200-day moving average of $559.90. The company has a market cap of $79.79 billion, a P/E ratio of 32.55, a P/E/G ratio of 1.35 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.23 EPS. As a group, equities research analysts anticipate that McKesson Co. will post 32.78 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MCK. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upped their target price on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

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.