MARSHALL WACE ASIA Ltd bought a new stake in McKesson Co. (NYSE:MCK) in the third quarter, Holdings Channel reports. The institutional investor bought 12,721 shares of the company’s stock, valued at approximately $1,687,000.
Other large investors have also recently bought and sold shares of the company. Fort L.P. bought a new position in shares of McKesson in the second quarter valued at approximately $110,000. Flagship Harbor Advisors LLC bought a new position in shares of McKesson in the second quarter valued at approximately $118,000. Reilly Financial Advisors LLC raised its stake in shares of McKesson by 506.8% in the third quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock valued at $119,000 after acquiring an additional 750 shares during the last quarter. Bray Capital Advisors bought a new position in shares of McKesson in the third quarter valued at approximately $123,000. Finally, FNY Investment Advisers LLC raised its stake in shares of McKesson by 88.6% in the third quarter. FNY Investment Advisers LLC now owns 1,120 shares of the company’s stock valued at $148,000 after acquiring an additional 526 shares during the last quarter. Institutional investors own 85.46% of the company’s stock.
Shares of McKesson stock traded up $0.63 during midday trading on Friday, reaching $127.03. The company had a trading volume of 395,313 shares, compared to its average volume of 1,478,494. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.56. The firm has a market cap of $24.43 billion, a P/E ratio of 10.07, a P/E/G ratio of 1.42 and a beta of 1.03. McKesson Co. has a 1-year low of $117.19 and a 1-year high of $178.86.
McKesson (NYSE:MCK) last released its earnings results on Thursday, October 25th. The company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.32. McKesson had a net margin of 0.06% and a return on equity of 26.55%. The firm had revenue of $53.08 billion during the quarter, compared to analyst estimates of $53.56 billion. On average, sell-side analysts expect that McKesson Co. will post 13.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, November 30th. McKesson’s dividend payout ratio is presently 12.36%.
A number of research firms have recently issued reports on MCK. Morgan Stanley cut their target price on shares of McKesson from $142.00 to $130.00 and set an “equal weight” rating for the company in a research note on Monday. ValuEngine cut shares of McKesson from a “sell” rating to a “strong sell” rating in a research note on Friday, November 16th. Barclays lowered their price target on shares of McKesson from $150.00 to $136.00 and set an “equal weight” rating for the company in a report on Friday, October 26th. Royal Bank of Canada set a $155.00 price target on shares of McKesson and gave the company a “hold” rating in a report on Friday, October 26th. Finally, Mizuho reissued a “hold” rating and issued a $133.00 price target on shares of McKesson in a report on Sunday, August 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. McKesson currently has an average rating of “Hold” and an average target price of $147.63.
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McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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