United Asset Strategies Inc. Sells 4,022 Shares of McKesson Corporation $MCK

United Asset Strategies Inc. trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 26.2% during the 1st quarter, HoldingsChannel reports. The fund owned 11,327 shares of the company’s stock after selling 4,022 shares during the quarter. United Asset Strategies Inc.’s holdings in McKesson were worth $9,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares during the period. Investment Research Partners LLC grew its stake in McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock worth $1,332,000 after buying an additional 11 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock worth $981,000 after buying an additional 11 shares in the last quarter. LRI Investments LLC increased its holdings in shares of McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after buying an additional 12 shares in the last quarter. Finally, Macroview Investment Management LLC raised its stake in shares of McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after acquiring an additional 12 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 3.5%

MCK stock traded up $27.42 during trading on Tuesday, hitting $811.65. The company had a trading volume of 202,679 shares, compared to its average volume of 940,088. The firm has a 50-day moving average price of $769.23 and a 200-day moving average price of $839.09. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock has a market cap of $95.03 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a $0.82 dividend. The ex-dividend date was Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This trade 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. Insiders have sold 20,285 shares of company stock valued at $15,546,137 in the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of several recent analyst reports. Barclays reduced their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Wells Fargo & Company cut their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. UBS Group raised their target price on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. cut their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

McKesson Profile

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.