McKesson Corporation (NYSE:MCK) is Sivik Global Healthcare LLC's 6th Largest Position

Sivik Global Healthcare LLC decreased its stake in McKesson Corporation (NYSE:MCK - Free Report) by 26.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,000 shares of the company's stock after selling 4,000 shares during the period. McKesson makes up 4.0% of Sivik Global Healthcare LLC's portfolio, making the stock its 6th biggest position. Sivik Global Healthcare LLC's holdings in McKesson were worth $7,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Capital A Wealth Management LLC purchased a new position in McKesson in the fourth quarter valued at about $26,000. Millstone Evans Group LLC purchased a new position in McKesson in the fourth quarter valued at about $28,000. Atala Financial Inc purchased a new position in McKesson in the fourth quarter valued at about $34,000. Graney & King LLC purchased a new position in McKesson in the fourth quarter valued at about $38,000. Finally, Kestra Investment Management LLC purchased a new position in McKesson in the fourth quarter valued at about $55,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Down 1.1%

Shares of McKesson stock opened at $720.88 on Friday. The business's 50 day simple moving average is $708.42 and its 200-day simple moving average is $647.84. The stock has a market capitalization of $90.19 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 1.46 and a beta of 0.49. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $733.10.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned $6.18 EPS. Sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio is currently 10.99%.

Analysts Set New Price Targets

MCK has been the subject of a number of analyst reports. UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average target price of $694.38.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the transaction, the chief executive officer now directly owns 51,243 shares of the company's stock, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president now directly owns 2,544 shares of the company's stock, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,117 shares of company stock worth $23,526,451 in the last three months. 0.11% of the stock is owned by company insiders.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.

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