Swiss Life Asset Management Ltd Buys 6,212 Shares of McKesson Corporation $MCK

Swiss Life Asset Management Ltd raised its stake in shares of McKesson Corporation (NYSE:MCK) by 30.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,763 shares of the company’s stock after purchasing an additional 6,212 shares during the period. Swiss Life Asset Management Ltd’s holdings in McKesson were worth $21,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. Brighton Jones LLC boosted its holdings in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP bought a new position in McKesson during the first quarter valued at $233,000. Sivia Capital Partners LLC increased its holdings in shares of McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after buying an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of McKesson in the 2nd quarter worth about $166,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $724.87 on Tuesday. The company has a 50 day moving average price of $874.21 and a 200-day moving average price of $859.12. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The company has a market capitalization of $88.79 billion, a PE ratio of 18.84, a P/E/G ratio of 1.06 and a beta of 0.35.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the previous year, the firm posted $10.12 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts forecast that McKesson Corporation will post 44.25 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. McKesson’s payout ratio is 8.53%.

Insider Buying and Selling

In other McKesson news, Director Maria Martinez sold 349 shares of McKesson stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the transaction, the director directly owned 301 shares of the company’s stock, valued at approximately $282,900.87. The trade was a 53.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $3,214,530. This represents a 45.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 3,264 shares of company stock valued at $3,205,315 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MCK shares. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of McKesson in a report on Monday, May 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $966.00 price target on shares of McKesson in a report on Thursday, January 29th. UBS Group increased their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Bank of America lowered their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $970.73.

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.