Elevation Point Wealth Partners LLC Has $3.07 Million Stake in McKesson Corporation $MCK

Key Points

• Elevation Point Wealth Partners boosted its McKesson stake by 236.8% in the first quarter, ending with 3,550 shares valued at about $3.07 million.
• McKesson reported Q1 earnings of $11.69 per share, topping Wall Street estimates, though revenue of $96.3 billion came in below expectations. The company also reaffirmed guidance for fiscal 2027 EPS of 43.8 to 44.6.
• Analysts remain broadly positive on the stock, with 14 Buy ratings and an average price target of $960.53, while recent insider sales included transactions by EVP Michele Lau and EVP Thomas L. Rodgers.

Elevation Point Wealth Partners LLC increased its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 236.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,550 shares of the company's stock after acquiring an additional 2,496 shares during the period. Elevation Point Wealth Partners LLC's holdings in McKesson were worth $3,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Cullen Investment Group LTD. lifted its holdings in shares of McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company's stock worth $3,811,000 after purchasing an additional 3,952 shares during the period. Pensionfund Sabic acquired a new stake in McKesson in the fourth quarter valued at $1,887,000. Investment Research Partners LLC acquired a new stake in McKesson in the third quarter valued at $1,303,000. Achmea Investment Management B.V. raised its position in McKesson by 7.5% during the 3rd quarter. Achmea Investment Management B.V. now owns 61,287 shares of the company's stock worth $47,347,000 after purchasing an additional 4,260 shares during the last quarter. Finally, Horizon Investments LLC raised its position in McKesson by 125.4% during the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company's stock worth $7,119,000 after purchasing an additional 4,828 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Trading Down 0.0%

Shares of MCK opened at $786.17 on Friday. The stock has a market capitalization of $92.05 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31. The firm's fifty day simple moving average is $769.23 and its two-hundred day simple moving average is $838.98. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share 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 the consensus estimate of $101.35 billion. During the same period last year, the business posted $10.12 EPS. The business's revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts predict that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio (DPR) is currently 8.53%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MCK. Bank of America cut their target price 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. UBS Group increased their price target 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. Barclays lowered their price objective on McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a research report on Wednesday, June 10th. Wells Fargo & Company reduced their target price on McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. decreased their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and an average price target of $960.53.

Insiders Place Their Bets

In other McKesson news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 20,285 shares of company stock valued at $15,546,137. Company insiders own 0.06% of the company's stock.

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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