Rakuten Investment Management Inc. bought a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,792 shares of the company's stock, valued at approximately $14,795,000.
Other large investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in shares of McKesson in the 2nd quarter valued at $109,000. Glenview Trust Co acquired a new stake in shares of McKesson during the 2nd quarter valued at about $2,543,000. North Star Asset Management Inc. acquired a new stake in shares of McKesson during the 2nd quarter valued at about $3,384,000. Empowered Funds LLC purchased a new position in shares of McKesson in the 2nd quarter valued at about $38,848,000. Finally, United Capital Financial Advisors LLC purchased a new position in shares of McKesson in the 2nd quarter valued at about $2,709,000. 85.07% of the stock is owned by hedge funds and other institutional investors.
McKesson Trading Up 0.6%
MCK stock opened at $895.59 on Friday. The firm has a 50-day moving average of $833.31 and a two-hundred day moving average of $844.13. McKesson Corporation has a 12 month low of $679.65 and a 12 month high of $999.00. The company has a market cap of $104.42 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.75 and a beta of 0.30.
McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping the consensus estimate of $9.56 by $0.37. The business 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%.The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current year.
McKesson Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is an increase from McKesson's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson's dividend payout ratio is presently 8.78%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on MCK shares. Morgan Stanley reiterated an "overweight" rating on shares of McKesson in a research report on Friday, August 7th. Wells Fargo & Company lifted their price target on shares of McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. JPMorgan Chase & Co. dropped their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Finally, UBS Group boosted their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $973.44.
Read Our Latest Stock Analysis on McKesson
Trending Headlines about 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
Insider Buying and Selling
In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the company's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the sale, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares of the company's stock, valued at $482,848. This trade represents a 17.39% 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 23,111 shares of company stock valued at $18,011,274 in the last quarter. 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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