Sivik Global Healthcare LLC Has $9.89 Million Position in McKesson Co. (NYSE:MCK)

Sivik Global Healthcare LLC raised its stake in shares of McKesson Co. (NYSE:MCK) by 11.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,000 shares of the company’s stock after acquiring an additional 2,000 shares during the quarter. McKesson comprises 4.2% of Sivik Global Healthcare LLC’s portfolio, making the stock its 6th biggest holding. Sivik Global Healthcare LLC’s holdings in McKesson were worth $9,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the stock. Swedbank AB acquired a new position in McKesson in the 1st quarter valued at $669,326,000. International Assets Investment Management LLC grew its position in shares of McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after purchasing an additional 734,849 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of McKesson by 3,621.7% in the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after purchasing an additional 340,007 shares during the period. Bristol Gate Capital Partners Inc. bought a new stake in McKesson during the 1st quarter valued at approximately $97,510,000. Finally, Assenagon Asset Management S.A. grew its holdings in McKesson by 581.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock valued at $74,776,000 after buying an additional 129,031 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company cut their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Citigroup increased their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Barclays increased their target price on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $631.57.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK opened at $621.59 on Thursday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The business has a fifty day moving average of $516.06 and a two-hundred day moving average of $553.41. The stock has a market cap of $78.90 billion, a PE ratio of 32.35, a PEG ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $6.23 EPS. Analysts predict that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio is 14.71%.

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.