Sivik Global Healthcare LLC Raises Stake in McKesson Co. (NYSE:MCK)

Sivik Global Healthcare LLC boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 24.1% during the 2nd quarter, Holdings Channel reports. The fund owned 18,000 shares of the company’s stock after buying an additional 3,500 shares during the period. McKesson comprises about 3.8% of Sivik Global Healthcare LLC’s portfolio, making the stock its 3rd largest position. Sivik Global Healthcare LLC’s holdings in McKesson were worth $10,513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intrust Bank NA bought a new position in McKesson during the 4th quarter worth about $206,000. Heritage Wealth Management LLC purchased a new position in shares of McKesson in the 4th quarter valued at approximately $1,538,000. Councilmark Asset Management LLC purchased a new position in shares of McKesson in the 1st quarter valued at approximately $5,160,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of McKesson in the 4th quarter valued at approximately $2,487,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of McKesson by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 804,338 shares of the company’s stock valued at $372,393,000 after purchasing an additional 10,977 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In related news, Director Maria Martinez sold 483 shares of McKesson stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the sale, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Maria Martinez sold 483 shares of McKesson stock in a transaction on Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,342 shares of company stock valued at $7,319,742. 0.11% of the stock is owned by company insiders.

McKesson Stock Up 1.0 %

Shares of NYSE:MCK traded up $5.63 during trading on Friday, hitting $561.08. 953,797 shares of the stock traded hands, compared to its average volume of 740,009. The company has a market cap of $72.90 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 1.46 and a beta of 0.45. The company has a fifty day moving average price of $580.87 and a two-hundred day moving average price of $555.49. McKesson Co. has a 52-week low of $404.72 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period in the previous year, the firm earned $7.27 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts predict that McKesson Co. will post 31.68 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a $0.71 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.51%. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group increased their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Bank of America raised their price target on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Wells Fargo & Company raised their price target on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Evercore ISI reduced their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $620.29.

McKesson Company 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.