McKesson Corporation $MCK Stock Bought by Sivik Global Healthcare LLC

Key Points

• Sivik Global Healthcare increased its McKesson stake by 62.5% in the third quarter, purchasing 2,500 additional shares for a total of 6,500 shares valued at approximately $5.55 million.
• Institutional ownership remains high at 85.07%, while analysts maintain a “Moderate Buy” consensus with an average price target of $983.29; 15 analysts recommend buying and four recommend holding.
• McKesson reported quarterly revenue of $105.38 billion and EPS of $9.93, both exceeding estimates, and raised its quarterly dividend from $0.82 to $0.94 per share.

Sivik Global Healthcare LLC grew its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 62.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,500 shares of the company's stock after purchasing an additional 2,500 shares during the period. McKesson comprises 3.4% of Sivik Global Healthcare LLC's portfolio, making the stock its 7th largest holding. Sivik Global Healthcare LLC's holdings in McKesson were worth $5,550,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of McKesson during the 2nd quarter valued at $8,156,743,000. Bank of America Corp DE acquired a new position in shares of McKesson in the second quarter worth $998,896,000. Legal & General Group Plc acquired a new position in shares of McKesson in the second quarter worth $656,566,000. The Manufacturers Life Insurance Company purchased a new stake in shares of McKesson during the second quarter worth $651,462,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of McKesson during the second quarter worth $599,060,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on MCK shares. Barclays boosted their target price on McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Wells Fargo & Company raised their price target on McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th. Mizuho lifted their price target on McKesson from $885.00 to $905.00 in a report on Thursday, August 6th. Robert W. Baird set a $1,015.00 price target on McKesson in a research note on Thursday, August 6th. Finally, Citigroup boosted their price target on McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $983.29.

Insider Buying and Selling

In other news, Director Bradley Lerman sold 301 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO B Jr sold 111 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was 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 approximately $464,445.45. This represents a 17.56% decrease in their ownership of the stock. 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. Company insiders own 0.06% of the company's stock.

McKesson Trading Up 1.0%

NYSE MCK traded up $9.77 during trading on Tuesday, hitting $965.53. 266,654 shares of the company traded hands, compared to its average volume of 931,459. McKesson Corporation has a 12 month low of $723.68 and a 12 month high of $999.00. The business has a fifty day simple moving average of $887.79 and a 200 day simple moving average of $833.96. The company has a market capitalization of $112.57 billion, a P/E ratio of 25.84, a PEG ratio of 1.97 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the prior year, the company posted $8.26 EPS. The firm'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. Equities research analysts predict that McKesson Corporation will post 44.73 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson's previous quarterly dividend of $0.82. The ex-dividend date was Tuesday, September 1st. McKesson's dividend payout ratio is 10.06%.

McKesson Company Profile

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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