Vertrix Wealth Management LLC Acquires Shares of 4,655 McKesson Corporation $MCK

Key Points

• Vertrix Wealth Management opened a new position in McKesson, buying 4,655 shares valued at about $4.03 million in the first quarter. The stake makes McKesson its 28th-largest holding and 1.5% of its portfolio.
• McKesson said its latest quarterly earnings beat EPS expectations, reporting $11.69 per share versus $11.56 expected, while revenue rose 6% year over year to $96.3 billion. The company also reaffirmed a FY 2027 guidance range of 43.8 to 44.6 EPS.
• Insider activity was notable, with CEO Brian S. Tyler selling 8,463 shares in a pre-arranged trading plan, and insiders selling 20,285 shares over the last three months overall. Meanwhile, analyst sentiment remains positive, with 14 Buy ratings and a consensus target price of $960.53.

Vertrix Wealth Management LLC bought a new position in McKesson Corporation (NYSE:MCK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,655 shares of the company's stock, valued at approximately $4,028,000. McKesson comprises 1.5% of Vertrix Wealth Management LLC's portfolio, making the stock its 28th biggest position.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company's stock worth $9,929,380,000 after purchasing an additional 73,109 shares during the period. State Street Corp boosted its position in shares of McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company's stock valued at $4,746,118,000 after buying an additional 29,660 shares during the period. Geode Capital Management LLC grew its stake in shares of McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company's stock valued at $2,333,520,000 after buying an additional 25,082 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company's stock valued at $2,318,102,000 after buying an additional 144,633 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of McKesson by 5.6% in the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company's stock worth $1,850,001,000 after buying an additional 126,684 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 1.8%

NYSE:MCK opened at $768.98 on Thursday. The stock has a market capitalization of $90.03 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.24 and a beta of 0.31. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm has a 50 day moving average of $771.21 and a 200 day moving average of $839.55.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts' consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion during the quarter, compared to analysts' expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm's revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson's payout ratio is presently 8.53%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the sale, the chief executive officer owned 14,382 shares in the company, valued at approximately $11,147,919.66. The trade was a 37.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,285 shares of company stock valued at $15,546,137 over the last three months. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent analyst reports. Citigroup reduced their target price on McKesson from $975.00 to $945.00 and set a "buy" rating on the stock in a research note on Thursday, May 14th. Wall Street Zen cut shares of McKesson from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. UBS Group boosted their price target on McKesson from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a report on Friday, May 8th. Finally, Raymond James Financial set a $970.00 price objective on McKesson in a research note on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $960.53.

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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