McKesson Co. (NYSE:MCK) Shares Acquired by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC increased its position in shares of McKesson Co. (NYSE:MCK) by 11.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,420 shares of the company’s stock after acquiring an additional 831 shares during the period. Insight Wealth Strategies LLC’s holdings in McKesson were worth $4,799,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MCK. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson during the 3rd quarter worth $29,000. Wolff Wiese Magana LLC raised its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the third quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new stake in shares of McKesson in the third quarter valued at approximately $40,000. Finally, Centennial Bank AR purchased a new position in shares of McKesson during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MCK. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned 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 $648.71.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.9 %

Shares of NYSE MCK traded up $5.46 during trading on Monday, hitting $582.90. 540,802 shares of the company traded hands, compared to its average volume of 535,625. The firm has a market capitalization of $73.99 billion, a P/E ratio of 30.19, a P/E/G ratio of 1.25 and a beta of 0.49. The company has a 50-day moving average price of $584.70 and a 200-day moving average price of $561.54. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the business earned $6.23 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. Research analysts predict that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

McKesson Company 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.