Impax Asset Management Group plc Purchases 705 Shares of McKesson Co. (NYSE:MCK)

Impax Asset Management Group plc grew its position in shares of McKesson Co. (NYSE:MCK) by 64.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,805 shares of the company’s stock after buying an additional 705 shares during the quarter. Impax Asset Management Group plc’s holdings in McKesson were worth $892,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Legal & General Group Plc raised its position in McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after purchasing an additional 36,583 shares during the last quarter. Swedbank AB bought a new position in shares of McKesson during the first quarter valued at approximately $669,326,000. Boston Partners boosted its holdings in McKesson by 4.1% in the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after acquiring an additional 47,140 shares in the last quarter. AQR Capital Management LLC increased its position in McKesson by 7.9% during the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after purchasing an additional 62,875 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after purchasing an additional 734,849 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

MCK stock opened at $606.29 on Friday. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The stock has a market capitalization of $76.96 billion, a P/E ratio of 31.40, a P/E/G ratio of 1.35 and a beta of 0.44. The business has a fifty day moving average price of $520.01 and a 200-day moving average price of $554.41.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the business earned $6.23 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio is presently 14.71%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MCK shares. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Wells Fargo & Company reduced their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Leerink Partners lowered their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

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.