McKesson Corporation (NYSE:MCK) Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. reduced its position in McKesson Corporation (NYSE:MCK - Free Report) by 6.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,975 shares of the company's stock after selling 710 shares during the period. Harel Insurance Investments & Financial Services Ltd.'s holdings in McKesson were worth $6,715,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MCK. IFM Investors Pty Ltd increased its position in McKesson by 10.9% during the first quarter. IFM Investors Pty Ltd now owns 26,140 shares of the company's stock worth $17,592,000 after buying an additional 2,567 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in McKesson by 1.7% during the first quarter. OneDigital Investment Advisors LLC now owns 2,391 shares of the company's stock worth $1,609,000 after buying an additional 40 shares in the last quarter. Calamos Wealth Management LLC increased its position in McKesson by 14.1% during the first quarter. Calamos Wealth Management LLC now owns 5,335 shares of the company's stock worth $3,590,000 after buying an additional 658 shares in the last quarter. Calamos Advisors LLC increased its position in McKesson by 1.3% during the first quarter. Calamos Advisors LLC now owns 31,782 shares of the company's stock worth $21,389,000 after buying an additional 413 shares in the last quarter. Finally, Moody Aldrich Partners LLC purchased a new position in McKesson during the first quarter worth $306,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president owned 2,621 shares in the company, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Britt J. Vitalone sold 6,336 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the transaction, the chief financial officer owned 14,760 shares in the company, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,117 shares of company stock valued at $23,526,451. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on MCK. Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Morgan Stanley lifted their target price on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Mizuho lifted their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and an average price target of $696.42.

McKesson Trading Up 2.0%

Shares of MCK traded up $13.85 during midday trading on Friday, reaching $719.30. 392,096 shares of the company were exchanged, compared to its average volume of 926,752. The stock has a 50-day moving average price of $714.17 and a 200-day moving average price of $657.75. The company has a market cap of $89.99 billion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 1.44 and a beta of 0.48. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $736.96.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. During the same quarter in the previous year, the firm posted $6.18 earnings per share. The company's revenue was up 18.9% compared to the same quarter last year. Equities research analysts anticipate 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. Investors of record on Monday, June 2nd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Monday, June 2nd. McKesson's dividend payout ratio (DPR) is 10.99%.

McKesson 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.