McKesson Corporation $MCK Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its McKesson stake by 7.4% in the fourth quarter, ending with 39,486 shares valued at about $32.4 million.
• Analyst sentiment remains positive overall, with 14 Buy ratings and 3 Hold ratings; McKesson’s average price target is $968.87 despite several firms trimming their targets.
• McKesson reported Q1 earnings of $11.69 per share, topping estimates, while revenue rose 6% year over year to $96.3 billion. The company also declared a quarterly dividend of $0.82 per share, payable July 1.

Intech Investment Management LLC lifted its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,486 shares of the company's stock after buying an additional 2,736 shares during the quarter. Intech Investment Management LLC's holdings in McKesson were worth $32,390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in MCK. Swedbank AB grew its position in shares of McKesson by 42.2% during the fourth quarter. Swedbank AB now owns 886,283 shares of the company's stock worth $727,009,000 after buying an additional 263,189 shares in the last quarter. SurgoCap Partners LP grew its position 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 buying an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position 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 in the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of McKesson during the third quarter worth approximately $135,352,000. Finally, Danske Bank A S acquired a new stake in shares of McKesson during the third quarter worth approximately $127,487,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MCK. Wall Street Zen raised shares of McKesson from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. decreased their price target 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. Weiss Ratings downgraded shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Citigroup decreased their price objective on shares of McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a report on Thursday, May 14th. Finally, Wells Fargo & Company dropped their target price on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 12th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average price target of $968.87.

McKesson Stock Performance

Shares of MCK opened at $757.80 on Friday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The company has a market cap of $91.09 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.13 and a beta of 0.35. The firm has a fifty day moving average of $823.51 and a 200-day moving average of $853.22.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the previous year, the company posted $10.12 earnings per share. The company'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. Analysts predict that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares of the company's stock, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated Tuesday, May 26th. The shares were 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 in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 8,663 shares of company stock valued at $7,217,102. Corporate insiders own 0.08% of the company's stock.

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.

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.