E. Ohman J or Asset Management AB Boosts Stock Position in McKesson Corporation $MCK

Key Points

• E. Ohman J or Asset Management AB increased its McKesson stake by 26.6% in the second quarter to 7,205 shares valued at approximately $5.44 million. Institutional investors collectively own 85.07% of the company.
• McKesson beat quarterly expectations with earnings of $9.93 per share versus the $9.56 consensus, while revenue rose 7.7% year over year to $105.38 billion. The company also raised its quarterly dividend to $0.94 per share from $0.82.
• Analyst sentiment remains favorable, with 14 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $968.93. However, insiders sold 28,748 shares worth about $22.26 million over the past 90 days.

E. Ohman J or Asset Management AB raised its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 26.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,205 shares of the company's stock after purchasing an additional 1,514 shares during the period. E. Ohman J or Asset Management AB's holdings in McKesson were worth $5,444,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Horizon Investments LLC raised its stake in McKesson by 125.4% during the fourth quarter. Horizon Investments LLC now owns 8,679 shares of the company's stock valued at $7,119,000 after buying an additional 4,828 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in McKesson by 18.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,526 shares of the company's stock worth $25,860,000 after buying an additional 4,964 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of McKesson by 62.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company's stock worth $2,590,000 after acquiring an additional 1,219 shares in the last quarter. Adelphi Trust Co acquired a new position in shares of McKesson in the 4th quarter worth approximately $1,177,000. Finally, Merit Financial Group LLC increased its holdings in shares of McKesson by 12.3% in the 4th quarter. Merit Financial Group LLC now owns 20,448 shares of the company's stock valued at $16,774,000 after acquiring an additional 2,238 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company's stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The sale 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, EVP Thomas L. Rodgers sold 699 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares of the company's stock, valued at $1,667,592.36. This trade represents a 23.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,748 shares of company stock valued at $22,262,035. 0.06% of the stock is currently owned by insiders.

McKesson Stock Performance

NYSE:MCK opened at $878.01 on Tuesday. The stock has a market cap of $102.37 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.71 and a beta of 0.30. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The business has a fifty day moving average of $803.51 and a 200-day moving average of $841.38.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts' consensus estimates of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to analysts' expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts predict that McKesson Corporation will post 44.59 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is a positive change from McKesson's previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson's payout ratio is presently 8.78%.

Analysts Set New Price Targets

Several research firms recently issued reports on MCK. William Blair started coverage on McKesson in a research report on Tuesday, April 28th. They set an "outperform" rating on the stock. 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. Wall Street Zen cut shares of McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Weiss Ratings cut shares of McKesson from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, July 7th. Finally, Citigroup raised their price target on shares of McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, McKesson has an average rating of "Moderate Buy" and an average target price of $968.93.

About McKesson

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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