Stablepoint Partners LLC Grows Position in McKesson Co. (NYSE:MCK)

Stablepoint Partners LLC grew its position in shares of McKesson Co. (NYSE:MCK) by 3.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,461 shares of the company’s stock after buying an additional 86 shares during the period. Stablepoint Partners LLC’s holdings in McKesson were worth $1,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MCK. Public Sector Pension Investment Board grew its holdings in McKesson by 76.1% in the second quarter. Public Sector Pension Investment Board now owns 4,778 shares of the company’s stock valued at $2,791,000 after purchasing an additional 2,064 shares during the period. Scientech Research LLC purchased a new position in shares of McKesson during the 2nd quarter valued at approximately $505,000. Susquehanna Fundamental Investments LLC acquired a new stake in McKesson in the 2nd quarter valued at $6,397,000. Driehaus Capital Management LLC increased its holdings in McKesson by 46.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,415 shares of the company’s stock worth $826,000 after acquiring an additional 452 shares in the last quarter. Finally, Ascent Group LLC raised its position in McKesson by 2.8% during the second quarter. Ascent Group LLC now owns 5,705 shares of the company’s stock worth $3,332,000 after acquiring an additional 154 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $646.14.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

MCK opened at $591.47 on Monday. The stock has a market capitalization of $75.08 billion, a PE ratio of 30.63, a P/E/G ratio of 1.26 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The business’s 50 day moving average price is $592.65 and its 200 day moving average price is $561.31.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business posted $6.23 EPS. As a group, equities research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 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.