RW Investment Management LLC Makes New Investment in McKesson Co. (NYSE:MCK)

RW Investment Management LLC purchased a new stake in McKesson Co. (NYSE:MCK) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 461 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LRI Investments LLC bought a new position in McKesson during the first quarter worth about $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the 3rd quarter worth approximately $29,000. ORG Wealth Partners LLC acquired a new position in shares of McKesson in the 3rd quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson in the 2nd quarter worth approximately $52,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MCK shares. Leerink Partners reduced their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Citigroup upped their price objective on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Evercore ISI upped their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Trading Down 2.7 %

Shares of NYSE MCK opened at $604.50 on Thursday. The firm has a market cap of $76.74 billion, a PE ratio of 32.17, a PEG ratio of 1.33 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The company has a fifty day moving average price of $526.55 and a 200 day moving average price of $556.24.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the business posted $6.23 EPS. The company’s quarterly revenue was up 21.3% on a year-over-year basis. Equities research analysts forecast that McKesson Co. will post 32.81 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Insider Activity 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 value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.

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.