Polar Capital Holdings Plc Increases Stock Position in McKesson Co. (NYSE:MCK)

Polar Capital Holdings Plc increased its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,285 shares of the company's stock after buying an additional 6,031 shares during the quarter. Polar Capital Holdings Plc's holdings in McKesson were worth $33,217,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in shares of McKesson by 7.0% in the fourth quarter. ProShare Advisors LLC now owns 23,192 shares of the company's stock valued at $13,217,000 after buying an additional 1,519 shares during the period. Quantinno Capital Management LP increased its holdings in shares of McKesson by 9.0% in the fourth quarter. Quantinno Capital Management LP now owns 20,090 shares of the company's stock valued at $11,450,000 after buying an additional 1,658 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of McKesson by 3.0% during the 4th quarter. Pathstone Holdings LLC now owns 25,850 shares of the company's stock worth $14,739,000 after acquiring an additional 750 shares in the last quarter. Parkman Healthcare Partners LLC acquired a new position in shares of McKesson in the 4th quarter worth $13,108,000. Finally, Mufg Securities Americas Inc. acquired a new stake in shares of McKesson during the fourth quarter worth $1,068,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MCK shares. Morgan Stanley raised their price target on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Bank of America lifted their target price on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. UBS Group raised their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and an average target price of $686.69.

McKesson Stock Up 0.3%

Shares of NYSE:MCK traded up $1.87 during midday trading on Monday, hitting $726.05. The stock had a trading volume of 785,862 shares, compared to its average volume of 916,487. The company's 50-day moving average price is $683.14 and its 200-day moving average price is $628.50. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.48. The company has a market capitalization of $90.84 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company's revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the business earned $6.18 earnings per share. Research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio is 10.99%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.

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.