Andra AP fonden Decreases Stock Holdings in McKesson Corporation $MCK

Key Points

• Andra AP fonden cut its McKesson stake by 34.3% in the first quarter, selling 7,499 shares and leaving it with 14,341 shares valued at about $12.41 million.
• Insider selling was notable, including CEO Brian S. Tyler’s sale of 8,463 shares and CAO Napoleon B. Rutledge, Jr.’s sale of 133 shares; insiders sold 28,748 shares total over the last quarter.
• McKesson shares were trading around $828.08, and the company recently reported quarterly EPS of $11.69, beating estimates, while analysts currently rate the stock Moderate Buy with an average target price of $959.

Andra AP fonden decreased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 34.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,341 shares of the company's stock after selling 7,499 shares during the period. Andra AP fonden's holdings in McKesson were worth $12,410,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares during the period. Caxton Associates LLP bought a new position in McKesson in the 1st quarter worth $233,000. Sivia Capital Partners LLC increased its stake in McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock worth $502,000 after buying an additional 300 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock worth $42,958,000 after buying an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in McKesson during the second quarter valued at about $166,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares of the company's stock, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 stock was 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 28,748 shares of company stock valued at $22,262,035. Company insiders own 0.06% of the company's stock.

McKesson Stock Down 0.4%

Shares of NYSE:MCK opened at $828.08 on Wednesday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The stock has a market capitalization of $96.95 billion, a P/E ratio of 21.53, a PEG ratio of 1.37 and a beta of 0.31. The firm has a fifty day simple moving average of $775.33 and a two-hundred day simple moving average of $838.48.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts' consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion during the quarter, compared to analysts' expectations of $101.35 billion. During the same quarter in the previous year, the business earned $10.12 EPS. The company's quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts expect that McKesson Corporation will post 44.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. UBS Group lifted their target price on McKesson from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Bank of America lowered their price target on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Wells Fargo & Company dropped their price target on McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 12th. Finally, TD Cowen cut their price objective on shares of McKesson from $1,012.00 to $989.00 and set a "buy" rating for the company in a report on Tuesday. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $959.00.

McKesson Profile

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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