Intellectus Partners LLC Grows Stake in McKesson Corporation $MCK

Intellectus Partners LLC boosted its position in McKesson Corporation (NYSE:MCK) by 61.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,384 shares of the company’s stock after purchasing an additional 906 shares during the period. Intellectus Partners LLC’s holdings in McKesson were worth $1,749,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its holdings in shares of McKesson by 22.0% during the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after purchasing an additional 68,294 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in McKesson in the first quarter valued at $289,000. Archford Capital Strategies LLC boosted its holdings in McKesson by 151.8% in the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after acquiring an additional 1,372 shares during the last quarter. Focus Partners Wealth boosted its holdings in McKesson by 3.3% in the first quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock valued at $48,159,000 after acquiring an additional 2,283 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in McKesson by 12.8% in the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after acquiring an additional 17,750 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of MCK opened at $811.96 on Monday. The stock’s 50-day moving average is $741.39 and its two-hundred day moving average is $719.17. The stock has a market cap of $100.99 billion, a PE ratio of 32.37, a P/E/G ratio of 1.46 and a beta of 0.52. McKesson Corporation has a 12 month low of $498.32 and a 12 month high of $846.32.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.88 EPS. On average, research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s payout ratio is currently 13.08%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 24,189 shares of company stock worth $16,722,190. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research analyst reports. Mizuho lifted their target price on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. TD Cowen lifted their target price on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company lifted their target price on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Finally, UBS Group lifted their target price on McKesson from $860.00 to $920.00 and gave the company a “buy” rating in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $839.15.

McKesson Profile

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.