Kingsview Wealth Management LLC Buys New Shares in McKesson Corporation $MCK

Kingsview Wealth Management LLC purchased a new stake in McKesson Corporation (NYSE:MCK) during the 2nd quarter, Holdings Channel reports. The firm purchased 5,728 shares of the company’s stock, valued at approximately $4,328,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. acquired a new position in shares of McKesson during the 4th quarter worth approximately $26,000. Delos Wealth Advisors LLC bought a new stake in shares of McKesson during the 2nd quarter worth approximately $27,000. State of Wyoming bought a new stake in shares of McKesson during the 2nd quarter worth approximately $29,000. Finally, Kingdom Financial Group LLC. acquired a new stake in shares of McKesson in the 4th quarter valued at approximately $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% 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. Over the last three months, insiders have sold 23,111 shares of company stock valued at $18,011,274. 0.06% of the stock is currently owned by insiders.

McKesson Price Performance

MCK stock opened at $895.59 on Friday. McKesson Corporation has a one year low of $679.65 and a one year high of $999.00. The stock has a market cap of $104.42 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.75 and a beta of 0.30. The company has a fifty day moving average price of $833.31 and a two-hundred day moving average price of $844.13.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. The company had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts anticipate that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is 8.78%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCK. TD Cowen raised their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Royal Bank Of Canada started coverage on shares of McKesson in a research report on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 price target on the stock. Evercore reaffirmed an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Finally, Wells Fargo & Company boosted their price target on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Expansion into precision medicine: McKesson agreed to acquire privately held Precision Medicine Group for approximately $2.25 billion. Precision Medicine provides clinical research, laboratory testing and commercialization services for biotechnology and pharmaceutical companies, giving McKesson greater exposure to oncology, personalized medicine and specialty care. McKesson Doubles Down on Healthcare Growth With Precision Medicine Acquisition
• Positive Sentiment: Higher-growth service mix: The acquisition is expected to strengthen McKesson’s clinical research and commercialization capabilities and deepen relationships with biopharmaceutical companies and oncology practices. Investors may view the transaction as a way to reduce reliance on lower-margin pharmaceutical distribution and participate in growth tied to new drug development. What Does McKesson Gain From Its Push Into Oncology And Clinical Research?
• Neutral Sentiment: Portfolio repositioning amid workforce changes: Coverage noted layoffs at Rx Savings while McKesson plans the Precision Medicine acquisition. The combination highlights an ongoing reallocation of resources, although the near-term effect on earnings and integration costs remains uncertain. Amid Layoffs, McKesson Plans Acquisition
• Negative Sentiment: Cybersecurity incident disclosed: McKesson reported discovering a cybersecurity incident on August 25 after the ShinyHunters group claimed it had stolen patient data. The company’s investigation and any resulting regulatory, remediation, privacy or reputational costs could weigh on sentiment, although the ultimate scope and financial impact were not yet clear. McKesson Discloses Breach After ShinyHunters Claims Patient Data Theft

McKesson 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.