McKesson Corporation $MCK Stock Position Raised by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ increased its position in McKesson Corporation (NYSE:MCK) by 3.1% in the first quarter, HoldingsChannel reports. The firm owned 41,304 shares of the company’s stock after acquiring an additional 1,232 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in McKesson were worth $35,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson in the fourth quarter valued at $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson during the fourth quarter valued at $26,000. State of Wyoming purchased a new position in shares of McKesson during the second quarter valued at $29,000. Board of the Pension Protection Fund acquired a new position in McKesson during the fourth quarter valued at $33,000. Finally, Kingdom Financial Group LLC. acquired a new position in McKesson during the fourth quarter valued at $33,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MCK shares. Leerink Partners restated an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. UBS Group raised their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $960.53.

McKesson Price Performance

Shares of McKesson stock opened at $749.37 on Tuesday. The firm has a market cap of $87.74 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 1.26 and a beta of 0.31. The stock has a 50-day simple moving average of $775.18 and a 200-day simple moving average of $840.27. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts predict that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders 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 is presently 8.53%.

Insider Buying and Selling

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 transaction of $1,817,482.92. Following the completion of the sale, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total value of $6,559,925.19. Following the transaction, the chief executive officer directly owned 14,382 shares in the company, valued at approximately $11,147,919.66. This represents a 37.05% 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 20,285 shares of company stock valued at $15,546,137 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

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.