Wesbanco Bank Inc. Sells 55 Shares of McKesson Co. (NYSE:MCK)

Wesbanco Bank Inc. reduced its holdings in McKesson Co. (NYSE:MCK) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,773 shares of the company’s stock after selling 55 shares during the quarter. Wesbanco Bank Inc.’s holdings in McKesson were worth $1,580,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in MCK. Wolff Wiese Magana LLC boosted its holdings in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the third quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the third quarter worth about $31,000. ORG Wealth Partners LLC purchased a new stake in McKesson in the third quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC boosted its position in McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after acquiring an additional 28 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCK. Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

McKesson Price Performance

McKesson stock opened at $597.31 on Friday. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The business’s fifty day moving average is $593.20 and its 200 day moving average is $561.23. The stock has a market capitalization of $75.82 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 1.27 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share 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 firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the company earned $6.23 earnings per share. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, sell-side analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

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.