413 Shares in McKesson Corporation (NYSE:MCK) Acquired by Elyxium Wealth LLC

Elyxium Wealth LLC bought a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 413 shares of the company's stock, valued at approximately $278,000.

Several other hedge funds have also added to or reduced their stakes in MCK. CVA Family Office LLC raised its holdings in McKesson by 6.0% during the 1st quarter. CVA Family Office LLC now owns 265 shares of the company's stock worth $178,000 after purchasing an additional 15 shares during the last quarter. Palisade Asset Management LLC raised its holdings in McKesson by 2.1% during the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock worth $481,000 after purchasing an additional 15 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in McKesson by 0.5% during the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock worth $1,867,000 after purchasing an additional 15 shares during the last quarter. Parallel Advisors LLC raised its holdings in McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock worth $1,683,000 after purchasing an additional 16 shares during the last quarter. Finally, Eagle Rock Investment Company LLC raised its holdings in McKesson by 0.4% during the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock worth $3,229,000 after purchasing an additional 17 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 19,371 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares in the company, valued at approximately $19,735,884.48. This trade represents a 41.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 6,336 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the transaction, the chief financial officer owned 14,760 shares in the company, valued at $10,587,348. This represents a 30.03% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,488 shares of company stock valued at $37,242,862. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. Evercore ISI lifted their price objective on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. UBS Group lifted 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. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Mizuho lifted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company set a $766.00 price target on shares of McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and an average price target of $710.17.

McKesson Trading Down 0.1%

Shares of McKesson stock opened at $709.84 on Monday. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89. The company has a market cap of $88.81 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 1.42 and a beta of 0.48. The company's 50-day moving average price is $716.44 and its 200-day moving average price is $668.27.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. McKesson's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $6.18 earnings per share. On average, sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, June 2nd. McKesson's payout ratio is currently 10.99%.

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.

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