Meridiem Capital Partners LP Makes New Investment in McKesson Co. (NYSE:MCK)

Meridiem Capital Partners LP bought a new stake in McKesson Co. (NYSE:MCK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,295 shares of the company's stock, valued at approximately $4,727,000.

Several other hedge funds also recently made changes to their positions in MCK. Millstone Evans Group LLC purchased a new stake in McKesson in the fourth quarter worth about $28,000. Synergy Asset Management LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson in the 4th quarter worth approximately $33,000. Atala Financial Inc bought a new position in McKesson during the 4th quarter valued at approximately $34,000. Finally, Graney & King LLC purchased a new position in McKesson during the fourth quarter valued at $38,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of NYSE:MCK traded up $16.29 during trading on Friday, hitting $723.05. The company's stock had a trading volume of 1,087,990 shares, compared to its average volume of 915,647. The firm has a market cap of $90.62 billion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 1.29 and a beta of 0.53. The company has a 50-day moving average of $681.75 and a 200-day moving average of $625.19. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.48.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm's revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the company earned $6.18 earnings per share. As a group, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio is presently 10.99%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCK. StockNews.com raised McKesson from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. UBS Group raised their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Evercore ISI upped their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Mizuho raised their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Finally, Morgan Stanley upped their price objective on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $686.69.

About McKesson

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.