McKesson Co. (MCK) Position Lifted by Bridgewater Associates LP
Bridgewater Associates LP boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 980.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,752 shares of the company’s stock after buying an additional 51,501 shares during the period. Bridgewater Associates LP’s holdings in McKesson were worth $7,571,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Unigestion Holding SA acquired a new position in McKesson during the second quarter valued at $35,787,000. Martingale Asset Management L P raised its position in McKesson by 38.6% during the second quarter. Martingale Asset Management L P now owns 6,443 shares of the company’s stock valued at $860,000 after buying an additional 1,796 shares during the period. Brandes Investment Partners LP raised its position in McKesson by 0.5% during the second quarter. Brandes Investment Partners LP now owns 727,626 shares of the company’s stock valued at $97,066,000 after buying an additional 3,289 shares during the period. Victory Capital Management Inc. raised its position in McKesson by 284.7% during the second quarter. Victory Capital Management Inc. now owns 77,291 shares of the company’s stock valued at $10,311,000 after buying an additional 57,201 shares during the period. Finally, LSV Asset Management raised its position in McKesson by 2.2% during the second quarter. LSV Asset Management now owns 1,302,398 shares of the company’s stock valued at $173,739,000 after buying an additional 28,462 shares during the period. 88.58% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the company. Royal Bank of Canada dropped their price target on McKesson to $158.00 and set a “market perform” rating on the stock in a research report on Friday, June 29th. ValuEngine downgraded McKesson from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 2nd. Leerink Swann set a $160.00 target price on McKesson and gave the company a “market perform” rating in a research note on Tuesday, May 29th. Robert W. Baird downgraded McKesson from an “outperform” rating to a “neutral” rating in a research note on Friday, July 20th. Finally, Standpoint Research upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $154.30.
MCK opened at $123.90 on Wednesday. The stock has a market cap of $25.72 billion, a PE ratio of 9.82, a P/E/G ratio of 1.37 and a beta of 1.25. McKesson Co. has a 52-week low of $122.63 and a 52-week high of $178.86. The company has a quick ratio of 0.57, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, July 26th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.01. The company had revenue of $52.61 billion during the quarter, compared to the consensus estimate of $52.91 billion. McKesson had a positive return on equity of 25.19% and a negative net margin of 0.18%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.47 EPS. equities research analysts forecast that McKesson Co. will post 13.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, August 31st. This is an increase from McKesson’s previous quarterly dividend of $0.34. McKesson’s dividend payout ratio is 10.78%.
McKesson Company Profile
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
Further Reading: How Important is Technical Analysis of Stocks
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK).
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.