McKesson Corporation $MCK Stock Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC boosted its stake in McKesson Corporation (NYSE:MCK) by 7.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,486 shares of the company’s stock after buying an additional 2,736 shares during the period. Intech Investment Management LLC’s holdings in McKesson were worth $32,390,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. Swedbank AB grew its position in McKesson by 42.2% in the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after buying an additional 263,189 shares in the last quarter. SurgoCap Partners LP grew its position in McKesson by 68.7% in the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after buying an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in McKesson by 73.7% in 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. Danica Pension Livsforsikringsaktieselskab bought a new stake in McKesson in the third quarter worth about $135,352,000. Finally, Danske Bank A S bought a new stake in McKesson in the third quarter worth about $127,487,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MCK. Citigroup dropped their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Bank of America dropped their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Weiss Ratings cut shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Barclays boosted their price target on shares of McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,663 shares of company stock valued at $7,217,102 over the last ninety days. Insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.2%

MCK stock opened at $757.80 on Friday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm has a market capitalization of $91.09 billion, a PE ratio of 19.70, a P/E/G ratio of 1.13 and a beta of 0.35. The firm has a 50-day moving average of $823.51 and a two-hundred day moving average of $853.22.

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

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 8.53%.

About McKesson

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.