Leonteq Securities AG Purchases New Shares in McKesson Corporation $MCK

Leonteq Securities AG purchased a new stake in McKesson Corporation (NYSE:MCK) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,741 shares of the company’s stock, valued at approximately $1,428,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. J.W. Cole Advisors Inc. lifted its stake in McKesson by 35.3% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock worth $3,931,000 after acquiring an additional 1,329 shares in the last quarter. Cullen Investment Group LTD. lifted its stake in McKesson by 550.4% in the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after acquiring an additional 3,952 shares in the last quarter. Private Wealth Partners LLC lifted its stake in McKesson by 5.6% in the 3rd quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock worth $24,598,000 after acquiring an additional 1,682 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in McKesson by 12.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock worth $255,438,000 after acquiring an additional 36,451 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in McKesson by 91.2% in the 3rd quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock worth $1,365,000 after acquiring an additional 843 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $764.90 on Friday. The firm has a market cap of $91.94 billion, a PE ratio of 19.88, a PEG ratio of 1.12 and a beta of 0.35. The firm’s 50 day moving average price is $841.61 and its 200 day moving average price is $856.17. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

Insider Buying and Selling at McKesson

In related news, EVP Michele Lau sold 2,725 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total value of $2,697,750.00. Following the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. This trade represents a 45.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several research analyst reports. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. reduced their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. UBS Group increased their price objective on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $968.87.

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.