McKesson Co. (NYSE:MCK) Position Increased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc increased its position in shares of McKesson Co. (NYSE:MCKFree Report) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,962 shares of the company’s stock after acquiring an additional 234 shares during the period. Pinnacle Financial Partners Inc’s holdings in McKesson were worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd lifted its stake in McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares during the period. Mine & Arao Wealth Creation & Management LLC. raised its stake in shares of McKesson by 313.3% in the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 62 shares of the company’s stock valued at $26,000 after acquiring an additional 47 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of McKesson in the third quarter valued at approximately $26,000. Legacy Financial Group LLC bought a new position in shares of McKesson in the third quarter valued at approximately $27,000. Finally, Live Oak Investment Partners bought a new position in shares of McKesson in the fourth quarter valued at approximately $30,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of McKesson from $495.00 to $514.00 and gave the company an “overweight” rating in a report on Friday, November 17th. Barclays assumed coverage on shares of McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target for the company. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Morgan Stanley lifted their target price on shares of McKesson from $459.00 to $480.00 and gave the stock an “overweight” rating in a report on Thursday, November 2nd. Finally, TD Cowen lifted their target price on shares of McKesson from $508.00 to $563.00 and gave the stock an “outperform” rating in a report on Monday, December 11th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $489.31.

Check Out Our Latest Report on MCK

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other McKesson news, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 660 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $461.26, for a total transaction of $304,431.60. Following the transaction, the executive vice president now owns 1,325 shares in the company, valued at $611,169.50. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

McKesson Trading Down 0.3 %

Shares of MCK stock traded down $1.26 on Friday, hitting $485.07. The stock had a trading volume of 370,757 shares, compared to its average volume of 692,448. The firm has a market cap of $64.54 billion, a P/E ratio of 19.18, a PEG ratio of 1.70 and a beta of 0.48. McKesson Co. has a twelve month low of $331.75 and a twelve month high of $494.76. The company has a fifty day moving average price of $466.17 and a two-hundred day moving average price of $444.57.

McKesson (NYSE:MCKGet Free Report) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $6.23 EPS for the quarter, beating the consensus estimate of $6.11 by $0.12. The business had revenue of $77.22 billion for the quarter, compared to analysts’ expectations of $76.03 billion. McKesson had a net margin of 1.20% and a negative return on equity of 241.79%. The firm’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.06 EPS. On average, analysts expect that McKesson Co. will post 27.25 earnings per share for the current year.

McKesson Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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