Swiss Life Asset Management Ltd Purchases 6,212 Shares of McKesson Corporation $MCK

Key Points

• Swiss Life Asset Management increased its McKesson stake by 30.2% in the fourth quarter, buying 6,212 additional shares and bringing its total holdings to 26,763 shares worth about $21.95 million.
• Institutional ownership remains heavy, with 85.07% of McKesson shares held by institutions; several other funds also boosted their positions, while insiders sold a combined 3,264 shares last quarter.
• Analysts remain broadly positive on McKesson, with 14 Buy ratings and 3 Hold ratings, giving the stock a consensus “Moderate Buy” and a target price of $970.73, even after Bank of America trimmed its target to $1,000.

Swiss Life Asset Management Ltd grew its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 30.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,763 shares of the company's stock after buying an additional 6,212 shares during the quarter. Swiss Life Asset Management Ltd's holdings in McKesson were worth $21,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. Swedbank AB lifted its holdings in shares of McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company's stock valued at $727,009,000 after buying an additional 263,189 shares during the period. SurgoCap Partners LP lifted its holdings in shares of McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company's stock valued at $349,390,000 after buying an additional 184,106 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of McKesson by 73.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company's stock valued at $354,839,000 after buying an additional 183,590 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new position in shares of McKesson during the 3rd quarter valued at $135,352,000. Finally, Danske Bank A S bought a new position in shares of McKesson during the 3rd quarter valued at $127,487,000. 85.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other McKesson news, EVP Michele Lau sold 2,725 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total value of $2,697,750.00. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at approximately $3,214,530. This represents a 45.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Maria Martinez sold 349 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total value of $328,014.63. Following the completion of the sale, the director owned 301 shares of the company's stock, valued at $282,900.87. The trade was a 53.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,264 shares of company stock worth $3,205,315. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MCK. Bank of America lowered their price target on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Robert W. Baird set a $968.00 price objective on McKesson in a research note on Wednesday, January 14th. Morgan Stanley restated an "overweight" rating and issued a $966.00 price objective on shares of McKesson in a research note on Thursday, January 29th. Barclays upped their price objective on McKesson from $960.00 to $1,050.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 18th. Finally, Wall Street Zen upgraded McKesson from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and a consensus target price of $970.73.

McKesson Price Performance

NYSE:MCK opened at $724.87 on Tuesday. The firm has a market capitalization of $88.79 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.06 and a beta of 0.35. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The business has a fifty day moving average price of $874.21 and a 200-day moving average price of $859.12.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the prior year, the business posted $10.12 EPS. McKesson's revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts expect that McKesson Corporation will post 44.25 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, June 1st. McKesson's dividend payout ratio is presently 8.53%.

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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