Intech Investment Management LLC Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Intech Investment Management LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,709 shares of the company’s stock after selling 861 shares during the quarter. Intech Investment Management LLC’s holdings in McKesson were worth $36,904,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MCK. Sachetta LLC purchased a new position in shares of McKesson in the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new position in shares of McKesson in the fourth quarter valued at approximately $31,000. WASHINGTON TRUST Co lifted its position in shares of McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after acquiring an additional 34 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in shares of McKesson in the fourth quarter valued at approximately $60,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of McKesson in the third quarter valued at approximately $61,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MCK shares. Morgan Stanley raised their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Evercore ISI lifted their price objective on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. SVB Leerink began coverage on McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective on the stock. TD Cowen lifted their price objective on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $571.47.

McKesson Trading Up 0.5 %

MCK stock traded up $2.70 during midday trading on Friday, hitting $560.73. 512,352 shares of the company’s stock were exchanged, compared to its average volume of 810,789. The business has a 50-day simple moving average of $538.64 and a two-hundred day simple moving average of $502.88. The stock has a market capitalization of $72.89 billion, a PE ratio of 25.05, a P/E/G ratio of 1.31 and a beta of 0.45. McKesson Co. has a 1-year low of $373.28 and a 1-year high of $566.16.

McKesson (NYSE:MCK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the prior year, the business earned $7.19 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, research analysts expect that McKesson Co. will post 31.57 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.44%. McKesson’s dividend payout ratio is currently 11.08%.

Insider Transactions at McKesson

In related news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders sold a total of 4,080 shares of company stock worth $2,160,489 over the last ninety days. Company insiders own 0.21% of the company’s stock.

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.