McKesson Corporation $MCK Stock: TrinityBridge Ltd Grows Position

Key Points

• TrinityBridge Ltd increased its McKesson position by 43.3% in the third quarter, adding 15,240 shares to hold 50,445 shares valued at about $43.1 million.
• Institutional investors own 85.07% of McKesson; meanwhile, company insiders sold 1,212 shares worth roughly $1.16 million over the past 90 days.
• McKesson’s latest quarterly results beat analyst estimates, with EPS of $9.93 and revenue of $105.38 billion, up 7.7% year over year. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $997.12.

TrinityBridge Ltd raised its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 43.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,445 shares of the company's stock after purchasing an additional 15,240 shares during the period. McKesson comprises 1.3% of TrinityBridge Ltd's portfolio, making the stock its 25th biggest position. TrinityBridge Ltd's holdings in McKesson were worth $43,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Nvwm LLC grew its position in shares of McKesson by 933.3% during the 3rd quarter. Nvwm LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 28 shares in the last quarter. Delos Wealth Advisors LLC purchased a new position in shares of McKesson during the second quarter valued at $27,000. Trellis Wealth Advisors LLC bought a new stake in shares of McKesson in the third quarter valued at about $32,000. Clearstead Trust LLC bought a new stake in shares of McKesson in the second quarter valued at about $37,000. Finally, GK Wealth Management LLC bought a new stake in shares of McKesson in the third quarter valued at about $38,000. 85.07% of the stock is owned by institutional investors.

Insider Transactions at McKesson

In other McKesson news, Director Bradley E. Lerman sold 301 shares of McKesson 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Napoleon B. Rutledge, 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 value of $98,950.95. Following the transaction, the chief accounting officer directly owned 521 shares in the company, valued at approximately $464,445.45. The trade was 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. Insiders have sold a total of 1,212 shares of company stock valued at $1,164,182 in the last 90 days. Insiders own 0.06% of the company's stock.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Analyst recommendations are broadly optimistic, which may support sentiment, although the article cautions that brokerage ratings can be overly positive and are not a reliable buy signal on their own. Wall Street Bulls Look Optimistic About McKesson
• Neutral Sentiment: Previews say the upcoming earnings report will test whether prescription volumes, specialty distribution and oncology growth can sustain profit growth. Strong demand could help offset pressure from branded-drug pricing, but investors are awaiting results for confirmation. Will MCK's Pharma & Specialty Demand Offset Pricing Headwind in Q2?
• Negative Sentiment: Branded-drug pricing pressure is a potential earnings headwind. If it outweighs volume and specialty-drug growth, results could disappoint investors focused on profit growth. Will MCK's Pharma & Specialty Demand Offset Pricing Headwind in Q2?

McKesson Price Performance

MCK opened at $1,001.68 on Wednesday. The business's 50-day moving average is $927.87 and its two-hundred day moving average is $864.61. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $1,030.27. The firm has a market capitalization of $116.79 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.99 and a beta of 0.27.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. The business 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%. The firm's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $8.26 earnings per share. As a group, sell-side analysts expect that McKesson Corporation will post 44.71 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson's payout ratio is presently 10.06%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of research reports. Bank of America upped their price objective on shares of McKesson from $950.00 to $1,050.00 in a research note on Thursday, August 6th. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research report on Thursday, August 6th. TD Cowen boosted their price target on shares of McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Mizuho upped their price target on shares of McKesson from $905.00 to $1,020.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 20th. Finally, Barclays increased their price objective on shares of McKesson from $925.00 to $1,000.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $997.12.

McKesson Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson's principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.

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.