PDT Partners LLC Buys Shares of 2,000 McKesson Co. (NYSE:MCK)

PDT Partners LLC purchased a new position in McKesson Co. (NYSE:MCK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,000 shares of the company's stock, valued at approximately $1,140,000.

Several other hedge funds have also recently bought and sold shares of MCK. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the fourth quarter valued at $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust purchased a new position in shares of McKesson during the fourth quarter valued at approximately $33,000. Atala Financial Inc acquired a new stake in McKesson during the fourth quarter worth approximately $34,000. Finally, Graney & King LLC purchased a new stake in McKesson in the 4th quarter worth approximately $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 over the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MCK shares. Wells Fargo & Company raised their price objective on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. UBS Group lifted 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. Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Finally, Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and a consensus price target of $681.00.

McKesson Price Performance

Shares of NYSE MCK traded up $5.29 during mid-day trading on Tuesday, hitting $712.29. The company had a trading volume of 307,274 shares, compared to its average volume of 888,218. The stock has a market cap of $89.27 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 1.29 and a beta of 0.53. The firm's 50 day simple moving average is $672.89 and its two-hundred day simple moving average is $616.14. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson's payout ratio is currently 13.00%.

McKesson Profile

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.