McKesson Corporation $MCK Stock Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 342.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,097 shares of the company's stock after acquiring an additional 188,187 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.21% of McKesson worth $207,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nvwm LLC lifted its position in McKesson by 933.3% during the 3rd quarter. Nvwm LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 28 shares during the period. Delos Wealth Advisors LLC bought a new stake in McKesson during the second quarter worth about $27,000. GK Wealth Management LLC bought a new stake in McKesson during the third quarter worth about $38,000. Clearstead Trust LLC bought a new stake in McKesson during the second quarter worth about $37,000. Finally, Security National Bank of SO Dak purchased a new stake in McKesson in the second quarter worth about $39,000. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

McKesson stock opened at $997.40 on Friday. McKesson Corporation has a one year low of $723.68 and a one year high of $1,003.21. The stock has a market capitalization of $116.29 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.94 and a beta of 0.30. The business's fifty day moving average is $894.99 and its 200 day moving average is $836.32.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The business had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the previous year, the firm earned $8.26 EPS. McKesson's revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 1st were issued a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This is an increase from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson's dividend payout ratio is presently 10.06%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho lifted their price objective on McKesson from $885.00 to $905.00 in a research note on Thursday, August 6th. Wells Fargo & Company increased their target price on McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th. Wall Street Zen cut McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Argus raised their price target on McKesson from $850.00 to $970.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Finally, UBS Group lifted their price target on McKesson from $1,050.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $983.29.

Insider Buying and Selling at McKesson

In other McKesson news, Director Bradley Lerman sold 301 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO B Jr sold 111 shares of the company's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the sale, the chief accounting officer directly owned 521 shares of the company's stock, valued at $464,445.45. The trade was a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.06% of the company's stock.

More McKesson News

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Leerink raised its price target to $1,070, implying additional upside from recent levels and reinforcing the bullish analyst outlook. Leerink lifts target for McKesson stock to USD 1,070
• Positive Sentiment: Jim Cramer called McKesson a health-care “winner,” adding favorable high-profile commentary as the stock continues to outperform the broader market. Jim Cramer: This Health Care Stock Is A Winner
• Positive Sentiment: McKesson approached $1,000 after setting a fresh 52-week high near $998.64, signaling strong momentum and sustained demand for the shares. McKesson Approaches $1,000 After Setting a New 52-Week High
• Positive Sentiment: Separate coverage reported an all-time high around $1,000.97, while another report highlighted a $1.4 billion McKesson commitment, adding to the company’s favorable news flow. McKesson stock hits all-time high
• Neutral Sentiment: The rally follows McKesson’s latest quarterly results, which exceeded EPS and revenue expectations and showed 7.7% year-over-year revenue growth. However, the stock is near its 12-month high, which may increase sensitivity to profit-taking.

About McKesson

McKesson Corporation NYSE: MCK is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson's principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.

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