Sivik Global Healthcare LLC Increases Stock Holdings in McKesson Corporation $MCK

Key Points

• Sivik Global Healthcare LLC increased its stake in McKesson Corporation by 18.2%, owning 13,000 shares valued at $9.5 million, making it the firm's 4th largest position.
• Analysts have raised their target price for McKesson, with institutions like Leerink Partners and Citigroup setting new target prices between $850 and $864.
• McKesson recently increased its quarterly dividend from $0.71 to $0.82, representing an annualized yield of 0.4% and a payout ratio of 13.08%.

Sivik Global Healthcare LLC boosted its position in McKesson Corporation (NYSE:MCK - Free Report) by 18.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,000 shares of the company's stock after acquiring an additional 2,000 shares during the period. McKesson accounts for about 2.6% of Sivik Global Healthcare LLC's holdings, making the stock its 4th biggest position. Sivik Global Healthcare LLC's holdings in McKesson were worth $9,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in McKesson by 1.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company's stock worth $632,000 after acquiring an additional 14 shares in the last quarter. CVA Family Office LLC lifted its holdings in shares of McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company's stock valued at $178,000 after purchasing an additional 15 shares in the last quarter. Palisade Asset Management LLC lifted its holdings in shares of McKesson by 2.1% in the first quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock valued at $481,000 after purchasing an additional 15 shares in the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock valued at $1,867,000 after purchasing an additional 15 shares in the last quarter. Finally, Keystone Financial Services lifted its holdings in shares of McKesson by 1.2% in the first quarter. Keystone Financial Services now owns 1,404 shares of the company's stock valued at $945,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCK. Leerink Partners raised their target price on McKesson from $785.00 to $850.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Morgan Stanley raised their target price on McKesson from $810.00 to $857.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. Mizuho raised their target price on McKesson from $750.00 to $770.00 and gave the company a "neutral" rating in a report on Wednesday, September 24th. Citigroup lifted their price target on McKesson from $820.00 to $860.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Finally, TD Cowen lifted their price target on McKesson from $830.00 to $864.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average target price of $829.08.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares of the company's stock, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares of the company's stock, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,189 shares of company stock valued at $16,722,190 over the last three months. Company insiders own 0.08% of the company's stock.

McKesson Price Performance

NYSE:MCK opened at $763.89 on Friday. The business has a fifty day simple moving average of $707.48 and a two-hundred day simple moving average of $706.39. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $776.14. The company has a market capitalization of $95.01 billion, a P/E ratio of 30.46, a P/E/G ratio of 1.38 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $97.83 billion during the quarter, compared to analysts' expectations of $95.93 billion. During the same period in the prior year, the business earned $7.88 earnings per share. The business's quarterly revenue was up 23.4% compared to the same quarter last year. As a group, analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.82 dividend. This is an increase from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson's dividend payout ratio (DPR) is 13.08%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.