Jefferies Financial Group Inc. Buys New Holdings in McKesson Corporation $MCK

Jefferies Financial Group Inc. acquired a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel.com reports. The fund acquired 1,327 shares of the company’s stock, valued at approximately $1,003,000.

A number of other hedge funds have also recently made changes to their positions in the business. Horizon Investments LLC grew its stake in shares of McKesson by 125.4% in the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after acquiring an additional 4,828 shares in the last quarter. Walter Public Investments Inc. purchased a new position in McKesson during the fourth quarter worth about $6,538,000. Summit Global Investments bought a new stake in McKesson in the 2nd quarter worth about $1,159,000. One Wealth Advisors LLC bought a new stake in McKesson in the 2nd quarter worth about $1,494,000. Finally, Artemis Investment Management LLP increased its stake in McKesson by 149.9% in the 4th quarter. Artemis Investment Management LLP now owns 11,671 shares of the company’s stock valued at $9,574,000 after buying an additional 7,000 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of McKesson stock opened at $895.59 on Monday. The stock has a market capitalization of $104.42 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.76 and a beta of 0.30. McKesson Corporation has a 52-week low of $679.65 and a 52-week high of $999.00. The stock’s 50-day simple moving average is $833.31 and its 200 day simple moving average is $843.29.

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

McKesson Increases Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 8.78%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research analyst reports. UBS Group boosted their target price on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. TD Cowen boosted their price objective on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Royal Bank Of Canada began coverage on McKesson in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price objective for the company. Finally, Robert W. Baird set a $1,015.00 target price on McKesson in a research report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $973.44.

Insider Activity at McKesson

In related news, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 22,988 shares of company stock valued at $17,920,808. Company insiders own 0.06% of the company’s stock.

McKesson News Summary

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

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.