McKesson Co. (NYSE:MCK) Shares Sold by Bellevue Group AG

Bellevue Group AG lowered its position in McKesson Co. (NYSE:MCK) by 22.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 35,742 shares of the company’s stock after selling 10,400 shares during the period. Bellevue Group AG’s holdings in McKesson were worth $17,672,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in shares of McKesson in the 1st quarter valued at $28,000. Cetera Investment Advisers grew its position in McKesson by 144.5% during the 1st quarter. Cetera Investment Advisers now owns 37,197 shares of the company’s stock worth $19,969,000 after purchasing an additional 21,981 shares during the period. Cetera Advisors LLC raised its stake in shares of McKesson by 343.2% during the 1st quarter. Cetera Advisors LLC now owns 10,516 shares of the company’s stock valued at $5,645,000 after buying an additional 8,143 shares during the last quarter. Transcend Capital Advisors LLC acquired a new position in shares of McKesson in the 2nd quarter valued at about $537,000. Finally, DNB Asset Management AS boosted its stake in shares of McKesson by 1.6% in the second quarter. DNB Asset Management AS now owns 31,132 shares of the company’s stock worth $18,182,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is owned by insiders.

McKesson Price Performance

NYSE MCK opened at $628.50 on Friday. The stock’s 50 day simple moving average is $542.22 and its 200-day simple moving average is $559.96. The company has a market cap of $79.78 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.36 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm posted $6.23 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities research analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent research reports. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Mizuho boosted their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Citigroup lifted their price objective on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

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.