Genesis Private Wealth LLC Buys Shares of 500 McKesson Co. (NYSE:MCK)

Genesis Private Wealth LLC acquired a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 500 shares of the company’s stock, valued at approximately $285,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Simon Quick Advisors LLC increased its stake in shares of McKesson by 15.4% during the fourth quarter. Simon Quick Advisors LLC now owns 666 shares of the company’s stock valued at $380,000 after acquiring an additional 89 shares during the period. Beaumont Financial Advisors LLC acquired a new position in shares of McKesson in the 4th quarter worth approximately $227,000. MCF Advisors LLC increased its holdings in shares of McKesson by 3.1% in the fourth quarter. MCF Advisors LLC now owns 801 shares of the company’s stock valued at $457,000 after buying an additional 24 shares in the last quarter. Aspire Private Capital LLC lifted its holdings in shares of McKesson by 1.0% during the fourth quarter. Aspire Private Capital LLC now owns 2,186 shares of the company’s stock valued at $1,246,000 after purchasing an additional 21 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in McKesson by 24.8% during the fourth quarter. Atomi Financial Group Inc. now owns 1,072 shares of the company’s stock valued at $611,000 after buying an additional 213 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % 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 this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

MCK opened at $585.51 on Wednesday. The stock has a 50-day moving average of $594.65 and a 200-day moving average of $561.08. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a market cap of $74.32 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 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. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, research analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on MCK. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Evercore ISI raised their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

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.