Nilsine Partners LLC Purchases 4,023 Shares of McKesson Corporation $MCK

Key Points

• Nilsine Partners increased its McKesson stake by 84.8% in the second quarter, purchasing 4,023 additional shares and bringing its holdings to 8,768 shares valued at approximately $6.625 million. Institutional investors collectively own 85.07% of the company.
• McKesson exceeded quarterly expectations, reporting $9.93 in EPS and $105.38 billion in revenue, with revenue up 7.7% year over year. The company also raised its quarterly dividend from $0.82 to $0.94 per share.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $973.44.

Nilsine Partners LLC raised its position in McKesson Corporation (NYSE:MCK - Free Report) by 84.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,768 shares of the company's stock after acquiring an additional 4,023 shares during the period. Nilsine Partners LLC's holdings in McKesson were worth $6,625,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson during the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new position in shares of McKesson in the fourth quarter valued at $26,000. Delos Wealth Advisors LLC acquired a new position in shares of McKesson in the second quarter valued at $27,000. State of Wyoming bought a new position in McKesson in the second quarter worth $29,000. Finally, Kingdom Financial Group LLC. bought a new position in McKesson in the fourth quarter worth $33,000. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $907.35 on Friday. The business's fifty day moving average price is $848.13 and its two-hundred day moving average price is $843.09. McKesson Corporation has a fifty-two week low of $682.35 and a fifty-two week high of $999.00. The stock has a market capitalization of $105.79 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.81 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating 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 company had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. During the same period last year, the business earned $8.26 earnings per share. The business'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. Research analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

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

Insider Transactions at McKesson

In other McKesson news, CEO Brian Tyler sold 8,463 shares of the business's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 22,156 shares of company stock worth $17,305,242. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MCK. Citigroup boosted their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a report on Friday, July 24th. Weiss Ratings raised shares of McKesson from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. TD Cowen lifted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Royal Bank Of Canada assumed coverage on shares of McKesson in a research note on Wednesday, August 19th. They issued a "sector perform" rating and a $845.00 target price on the stock. Finally, Wells Fargo & Company increased their price target 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. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $973.44.

About McKesson

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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