McKesson Corporation $MCK Stock: Oppenheimer & Co. Inc. Boosts Stake

Oppenheimer & Co. Inc. raised its position in shares of McKesson Corporation (NYSE:MCK) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,593 shares of the company’s stock after buying an additional 627 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in McKesson were worth $4,775,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of McKesson in the 2nd quarter worth about $8,156,743,000. Bank of America Corp DE increased its stake in shares of McKesson by 2.4% in the 1st quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock worth $1,331,552,000 after acquiring an additional 35,916 shares in the last quarter. Swedbank AB lifted its position in McKesson by 13.5% during the 1st quarter. Swedbank AB now owns 1,005,610 shares of the company’s stock valued at $870,215,000 after acquiring an additional 119,327 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in McKesson by 3.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock valued at $697,096,000 after acquiring an additional 29,747 shares during the period. Finally, Legal & General Group Plc purchased a new position in McKesson during the 2nd quarter valued at about $656,566,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer directly owned 521 shares in the company, valued at $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,212 shares of company stock valued at $1,164,182 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MCK has been the topic of several research reports. Evercore reissued an “outperform” rating and set a $950.00 price objective (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Bank of America lifted their target price on shares of McKesson from $950.00 to $1,050.00 in a report on Thursday, August 6th. Citigroup lifted their target price on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, TD Cowen boosted their price target on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $997.12.

McKesson Stock Up 2.2%

MCK opened at $981.65 on Friday. The firm has a 50 day moving average price of $919.47 and a 200-day moving average price of $862.04. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $1,030.27. The stock has a market capitalization of $114.45 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.91 and a beta of 0.30.

McKesson (NYSE:MCK) last issued 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 net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter last year, the company posted $8.26 earnings per share. The firm’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. As a group, analysts expect that McKesson Corporation will post 44.71 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 1st. McKesson’s dividend payout ratio is presently 10.06%.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.