McKesson Corporation $MCK Shares Purchased by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its McKesson stake by 275.8% in the fourth quarter, buying 2,143 additional shares and bringing its total to 2,920 shares valued at about $2.4 million.
• Several other institutions also boosted their holdings, and 85.07% of McKesson’s stock is now owned by institutional investors and hedge funds, showing strong professional interest in the company.
• McKesson reported better-than-expected EPS of $11.69 for the latest quarter, while analysts remain largely bullish with 14 Buy ratings and an average Moderate Buy rating; the company also announced a quarterly dividend of $0.82 per share.

NewEdge Wealth LLC lifted its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 275.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,920 shares of the company's stock after purchasing an additional 2,143 shares during the quarter. NewEdge Wealth LLC's holdings in McKesson were worth $2,396,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB lifted its position in McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company's stock worth $727,009,000 after acquiring an additional 263,189 shares during the period. SurgoCap Partners LP lifted its stake in McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company's stock valued at $349,390,000 after acquiring an additional 184,106 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in McKesson by 73.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company's stock valued at $354,839,000 after acquiring an additional 183,590 shares during the period. Danica Pension Livsforsikringsaktieselskab acquired a new stake in McKesson during the 3rd quarter valued at approximately $135,352,000. Finally, Danske Bank A S acquired a new stake in McKesson during the 3rd quarter valued at approximately $127,487,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 190 shares of the company's stock in a transaction on Tuesday, February 17th. The shares were 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 directly owned 2,989 shares in the company, valued at approximately $2,824,605. This represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michele Lau sold 2,725 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the transaction, the executive vice president owned 3,247 shares of the company's stock, valued at $3,214,530. This represents a 45.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,264 shares of company stock worth $3,205,315 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen upgraded shares of McKesson from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. William Blair started coverage on McKesson in a report on Tuesday, April 28th. They issued an "outperform" rating for the company. Robert W. Baird set a $968.00 price objective on McKesson in a report on Wednesday, January 14th. Barclays boosted their price objective on McKesson from $960.00 to $1,050.00 and gave the company an "overweight" rating in a report on Wednesday, February 18th. Finally, Bank of America decreased their price objective on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a report on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $963.20.

McKesson Price Performance

MCK opened at $735.20 on Wednesday. The firm has a fifty day moving average price of $869.22 and a 200 day moving average price of $858.69. 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 $88.37 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.08 and a beta of 0.35.

McKesson (NYSE:MCK - Get Free Report) last posted its 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. The firm had revenue of $96.30 billion during the quarter, compared to analysts' expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business's revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts expect that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson's payout ratio is 8.53%.

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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