Muhlenkamp & Co. Inc. bought a new position in McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,202 shares of the company's stock, valued at approximately $20,554,000. McKesson makes up approximately 6.0% of Muhlenkamp & Co. Inc.'s investment portfolio, making the stock its 5th biggest position.
Several other hedge funds have also modified their holdings of MCK. Horizon Investments LLC increased its position in McKesson by 125.4% during the fourth quarter. Horizon Investments LLC now owns 8,679 shares of the company's stock valued at $7,119,000 after acquiring an additional 4,828 shares during the last quarter. Walter Public Investments Inc. purchased a new stake in shares of McKesson in the fourth quarter valued at $6,538,000. Summit Global Investments bought a new stake in shares of McKesson in the 2nd quarter worth about $1,159,000. One Wealth Advisors LLC purchased a new position in shares of McKesson during the 2nd quarter worth about $1,494,000. Finally, Artemis Investment Management LLP boosted its stake in shares of McKesson by 149.9% during the 4th quarter. Artemis Investment Management LLP now owns 11,671 shares of the company's stock worth $9,574,000 after purchasing an additional 7,000 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
MCK has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on shares of McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 11th. Weiss Ratings lowered McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, July 7th. Robert W. Baird set a $1,015.00 target price on McKesson in a research note on Thursday, August 6th. Wall Street Zen downgraded McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Finally, Evercore reissued an "outperform" rating on shares of McKesson in a research note on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average price target of $973.44.
Read Our Latest Report on MCK
Key Headlines Impacting McKesson
Here are the key news stories impacting McKesson this week:
- Positive Sentiment: Expansion into precision medicine: McKesson agreed to acquire privately held Precision Medicine Group for approximately $2.25 billion. Precision Medicine provides clinical research, laboratory testing and commercialization services for biotechnology and pharmaceutical companies, giving McKesson greater exposure to oncology, personalized medicine and specialty care. McKesson Doubles Down on Healthcare Growth With Precision Medicine Acquisition
- Positive Sentiment: Higher-growth service mix: The acquisition is expected to strengthen McKesson’s clinical research and commercialization capabilities and deepen relationships with biopharmaceutical companies and oncology practices. Investors may view the transaction as a way to reduce reliance on lower-margin pharmaceutical distribution and participate in growth tied to new drug development. What Does McKesson Gain From Its Push Into Oncology And Clinical Research?
- Neutral Sentiment: Portfolio repositioning amid workforce changes: Coverage noted layoffs at Rx Savings while McKesson plans the Precision Medicine acquisition. The combination highlights an ongoing reallocation of resources, although the near-term effect on earnings and integration costs remains uncertain. Amid Layoffs, McKesson Plans Acquisition
- Negative Sentiment: Cybersecurity incident disclosed: McKesson reported discovering a cybersecurity incident on August 25 after the ShinyHunters group claimed it had stolen patient data. The company’s investigation and any resulting regulatory, remediation, privacy or reputational costs could weigh on sentiment, although the ultimate scope and financial impact were not yet clear. McKesson Discloses Breach After ShinyHunters Claims Patient Data Theft
McKesson Stock Performance
McKesson stock opened at $895.59 on Friday. The company has a 50 day moving average price of $833.31 and a 200-day moving average price of $844.13. McKesson Corporation has a fifty-two week low of $679.65 and a fifty-two week high of $999.00. The company has a market capitalization of $104.42 billion, a PE ratio of 23.97, a P/E/G ratio of 1.75 and a beta of 0.30.
McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $105.38 billion for the quarter, compared to analysts' expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.McKesson's revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm 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 44.65 earnings per share for the current year.
McKesson Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson's previous quarterly dividend of $0.82. McKesson's dividend payout ratio is currently 8.78%.
Insider Transactions at McKesson
In related news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the company's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer directly owned 5,919 shares of the company's stock, valued at approximately $4,697,081.64. This trade represents a 58.84% 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. In the last ninety days, insiders have sold 23,111 shares of company stock worth $18,011,274. Corporate insiders own 0.06% of the company's stock.
McKesson Company Profile
(
Free Report)
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.
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