McKesson Corporation $MCK Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its McKesson stake by 48.9% in the second quarter, selling 52,528 shares and retaining 54,910 shares valued at approximately $41.5 million. Institutional investors and hedge funds collectively own 85.07% of the stock.
• McKesson exceeded quarterly earnings and revenue expectations, reporting adjusted EPS of $9.93 and revenue of $105.38 billion, up 7.7% year over year. The company raised fiscal 2027 adjusted EPS guidance to $44.20-$45.00.
• Shareholder returns are increasing, with a planned $5 billion share-repurchase program and a 15% dividend increase to $0.94 per quarter. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $968.93.

Assenagon Asset Management S.A. cut its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 48.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,910 shares of the company's stock after selling 52,528 shares during the quarter. Assenagon Asset Management S.A.'s holdings in McKesson were worth $41,490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MCK. Apella Capital LLC raised its position in shares of McKesson by 3.4% in the 2nd quarter. Apella Capital LLC now owns 612 shares of the company's stock worth $494,000 after buying an additional 20 shares during the period. Mechanics Bank Trust Department raised its holdings in shares of McKesson by 11.5% in the 2nd quarter. Mechanics Bank Trust Department now owns 5,043 shares of the company's stock worth $3,810,000 after purchasing an additional 519 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in shares of McKesson by 2.6% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 1,286 shares of the company's stock valued at $972,000 after purchasing an additional 32 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of McKesson by 2.1% in the 2nd quarter. GAMMA Investing LLC now owns 4,851 shares of the company's stock valued at $3,665,000 after purchasing an additional 99 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. purchased a new stake in shares of McKesson during the 2nd quarter worth about $1,565,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% 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. Over the last 90 days, insiders have sold 28,748 shares of company stock worth $22,262,035. 0.06% of the stock is owned by corporate insiders.

McKesson News Summary

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Quarterly results exceeded expectations. McKesson reported adjusted earnings of $9.93 per share, ahead of the $9.44-$9.56 analyst consensus range, while revenue rose 7.7% year over year to $105.38 billion, topping estimates. EPS also increased from $8.26 in the prior-year quarter. McKesson Q1 Earnings and Revenues Top Estimates
• Positive Sentiment: Specialty pharmaceutical growth drove profitability. Pharma profit rose 19%, supported by specialty medicine demand and oncology growth. Management raised fiscal 2027 adjusted EPS guidance to $44.20-$45.00, broadly in line with or above current analyst expectations. MCK Q1 Earnings Call Centers on Pharma-Led Guidance Raise
• Positive Sentiment: Capital returns are becoming more attractive. McKesson plans approximately $5 billion in share repurchases and raised its dividend by 15%, potentially supporting per-share earnings and investor sentiment. McKesson Outlines Fiscal 2027 EPS and Share Repurchases
• Neutral Sentiment: McKesson is rebranding its Medical-Surgical Solutions business as Wellverse ahead of a planned spinoff and potential IPO. The move could unlock value, although it also introduces execution and separation risks. McKesson Debuts Wellverse Name
• Neutral Sentiment: Recent Zacks commentary characterizes MCK as a growth stock, citing earnings growth, specialty-drug exposure and improving fundamentals. However, these articles are analytical opinions rather than new company announcements. McKesson Is an Incredible Growth Stock

McKesson Stock Performance

McKesson stock opened at $871.72 on Friday. The firm has a market capitalization of $101.63 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 1.43 and a beta of 0.30. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The stock's 50 day moving average price is $800.68 and its 200 day moving average price is $840.98.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts forecast that McKesson Corporation will post 44.59 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This is a positive change from McKesson's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson's payout ratio is presently 10.06%.

Analyst Ratings Changes

Several research firms recently commented on MCK. Citigroup raised their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a report on Friday, July 24th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a research report on Thursday. UBS Group raised their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a "buy" rating in a research note on Thursday. Barclays cut their target price on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 10th. Finally, William Blair initiated coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an "outperform" rating for the company. 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $968.93.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source