Harel Insurance Investments & Financial Services Ltd. Raises Holdings in McKesson Corporation $MCK

Key Points

• Harel Insurance raised its stake in McKesson by 27.3% in Q4 to 10,097 shares valued at $8.28 million, while other institutions also added large positions and institutional investors now own about 85.07% of the company.
• Company insiders have been net sellers recently — including director Maria Martinez and EVP Leann B. Smith — with 3,592 shares sold in the past 90 days worth roughly $3.52 million; insiders now own about 0.08% of McKesson.
• McKesson beat Q4 estimates (EPS $9.34 vs. $9.19) with revenue up 11.4% year-over-year, announced a quarterly dividend of $0.82 (annualized $3.28, 0.4% yield), and carries a consensus analyst rating of "Moderate Buy" with an average target of $972.27 and several firms raising targets above $1,000.

Harel Insurance Investments & Financial Services Ltd. grew its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,097 shares of the company's stock after purchasing an additional 2,164 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in McKesson were worth $8,283,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MCK. SurgoCap Partners LP grew its holdings in shares of McKesson by 68.7% during the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company's stock worth $349,390,000 after purchasing an additional 184,106 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company's stock worth $354,839,000 after buying an additional 183,590 shares during the period. Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of McKesson during the third quarter worth about $135,352,000. Danske Bank A S acquired a new stake in shares of McKesson during the third quarter worth about $127,487,000. Finally, Wellington Management Group LLP boosted its stake in shares of McKesson by 32.9% during the third quarter. Wellington Management Group LLP now owns 618,984 shares of the company's stock worth $478,190,000 after buying an additional 153,182 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Buying and Selling at McKesson

In related news, Director Maria Martinez sold 349 shares of McKesson stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the transaction, the director owned 301 shares in the company, valued at approximately $282,900.87. The trade was a 53.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 190 shares of the business's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $945.00, for a total transaction of $179,550.00. Following the completion of the transaction, the executive vice president owned 2,989 shares in the company, valued at $2,824,605. This represents a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,592 shares of company stock worth $3,518,555. Insiders own 0.08% of the company's stock.

McKesson Price Performance

Shares of MCK opened at $800.99 on Wednesday. The firm has a 50 day simple moving average of $891.94 and a 200-day simple moving average of $860.41. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The stock has a market cap of $98.11 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 1.17 and a beta of 0.35.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 4th. The company reported $9.34 earnings per share for the quarter, beating the consensus estimate of $9.19 by $0.15. The business had revenue of $106.16 billion for the quarter, compared to analyst estimates of $105.98 billion. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.03 EPS. On average, equities analysts expect that McKesson Corporation will post 39.02 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson's payout ratio is presently 9.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of McKesson from $983.00 to $1,107.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 10th. Weiss Ratings downgraded shares of McKesson from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, February 5th. Leerink Partners restated an "outperform" rating and issued a $1,085.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Barclays raised their price objective on shares of McKesson from $960.00 to $1,050.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Finally, Evercore restated an "outperform" rating on shares of McKesson in a research report on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $972.27.

McKesson Company 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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