Field & Main Bank bought a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,801 shares of the company's stock, valued at approximately $1,361,000.
Several other hedge funds also recently added to or reduced their stakes in MCK. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock valued at $1,855,000 after buying an additional 11 shares during the period. Investment Research Partners LLC grew its holdings in McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock worth $1,332,000 after acquiring an additional 11 shares during the period. IHT Wealth Management LLC raised its position in McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company's stock valued at $981,000 after acquiring an additional 11 shares in the last quarter. LRI Investments LLC raised its position in McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after acquiring an additional 12 shares in the last quarter. Finally, Macroview Investment Management LLC lifted its holdings in McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock valued at $264,000 after acquiring an additional 12 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.
McKesson Price Performance
Shares of MCK stock opened at $895.59 on Friday. The company has a market cap of $104.42 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.75 and a beta of 0.30. The stock has a 50 day simple moving average of $833.31 and a 200-day simple moving average of $844.13. McKesson Corporation has a 1-year low of $679.65 and a 1-year high of $999.00.
McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business's revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.
McKesson Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a positive change from McKesson's previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson's dividend payout ratio (DPR) is 8.78%.
McKesson News Summary
Here are the key news stories impacting McKesson this week:
- Positive Sentiment: Expansion into precision medicine: McKesson agreed to acquire privately held Precision Medicine Group for approximately $2.25 billion. Precision Medicine provides clinical research, laboratory testing and commercialization services for biotechnology and pharmaceutical companies, giving McKesson greater exposure to oncology, personalized medicine and specialty care. McKesson Doubles Down on Healthcare Growth With Precision Medicine Acquisition
- Positive Sentiment: Higher-growth service mix: The acquisition is expected to strengthen McKesson’s clinical research and commercialization capabilities and deepen relationships with biopharmaceutical companies and oncology practices. Investors may view the transaction as a way to reduce reliance on lower-margin pharmaceutical distribution and participate in growth tied to new drug development. What Does McKesson Gain From Its Push Into Oncology And Clinical Research?
- Neutral Sentiment: Portfolio repositioning amid workforce changes: Coverage noted layoffs at Rx Savings while McKesson plans the Precision Medicine acquisition. The combination highlights an ongoing reallocation of resources, although the near-term effect on earnings and integration costs remains uncertain. Amid Layoffs, McKesson Plans Acquisition
- Negative Sentiment: Cybersecurity incident disclosed: McKesson reported discovering a cybersecurity incident on August 25 after the ShinyHunters group claimed it had stolen patient data. The company’s investigation and any resulting regulatory, remediation, privacy or reputational costs could weigh on sentiment, although the ultimate scope and financial impact were not yet clear. McKesson Discloses Breach After ShinyHunters Claims Patient Data Theft
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. Weiss Ratings cut shares of McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 7th. UBS Group boosted their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Evercore restated an "outperform" rating on shares of McKesson in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $973.44.
Get Our Latest Analysis on MCK
Insider Activity at McKesson
In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 23,111 shares of company stock worth $18,011,274 over the last three months. Company insiders own 0.06% of the company's stock.
About McKesson
(
Free Report)
McKesson Corporation NYSE: MCK is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.
The company's core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.
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