Left Brain Wealth Management LLC Raises Stake in McKesson Corporation $MCK

Key Points

• Left Brain Wealth Management increased its McKesson stake by 39% in the fourth quarter, buying 1,923 additional shares and bringing its holding to 6,848 shares valued at about $5.6 million.
• Analysts remain broadly positive on McKesson, with 14 Buy ratings and 3 Hold ratings, giving the stock a consensus Moderate Buy and a target price of $968.87.
• McKesson recently reported Q1 EPS of $11.69, beating estimates, and declared a quarterly dividend of $0.82 per share to be paid on July 1, implying an annual yield of about 0.4%.

Left Brain Wealth Management LLC increased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 39.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,848 shares of the company's stock after purchasing an additional 1,923 shares during the period. McKesson accounts for 1.9% of Left Brain Wealth Management LLC's investment portfolio, making the stock its 19th largest position. Left Brain Wealth Management LLC's holdings in McKesson were worth $5,617,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. GGM Financials LLC purchased a new stake in McKesson during the 3rd quarter worth about $25,000. State of Wyoming purchased a new stake in McKesson during the 2nd quarter worth about $29,000. Hopwood Financial Services Inc. purchased a new stake in shares of McKesson in the 3rd quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of McKesson in the 3rd quarter valued at about $33,000. Finally, Board of the Pension Protection Fund purchased a new stake in shares of McKesson in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on MCK. TD Cowen raised their price target on McKesson from $1,000.00 to $1,012.00 and gave the company a "buy" rating in a report on Thursday, February 5th. 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. Mizuho raised their price target on McKesson from $880.00 to $885.00 and gave the company a "neutral" rating in a report on Thursday, February 5th. Evercore reaffirmed an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. Finally, Citigroup lowered their price target on McKesson from $975.00 to $945.00 and set a "buy" rating on the stock in a report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $968.87.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 190 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 2,989 shares in the company, valued at $2,824,605. This trade represents a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maria Martinez sold 349 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,264 shares of company stock worth $3,205,315 in the last ninety days. 0.08% of the stock is owned by insiders.

McKesson Price Performance

MCK opened at $759.82 on Friday. The stock's 50 day simple moving average is $854.83 and its 200 day simple moving average is $857.22. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The firm has a market cap of $91.33 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.11 and a beta of 0.35.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period last year, the company earned $10.12 EPS. McKesson's revenue for the quarter 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, sell-side analysts anticipate that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson's dividend payout ratio (DPR) is presently 8.53%.

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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