R Squared Ltd Takes $171,000 Position in McKesson Co. (NYSE:MCK)

R Squared Ltd purchased a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 300 shares of the company’s stock, valued at approximately $171,000.

Several other institutional investors have also recently added to or reduced their stakes in MCK. International Assets Investment Management LLC increased its position in shares of 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 during the last quarter. FMR LLC increased its holdings in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after buying an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after buying an additional 425,875 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after buying an additional 321,119 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after acquiring an additional 162,688 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale 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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MCK. Leerink Partners reduced their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Citigroup lowered their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Bank of America cut 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. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $646.14.

McKesson Stock Up 0.1 %

MCK stock opened at $603.79 on Thursday. The company has a market capitalization of $76.64 billion, a P/E ratio of 31.27, a PEG ratio of 1.26 and a beta of 0.52. The company has a 50-day simple moving average of $592.16 and a 200 day simple moving average of $561.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $6.23 earnings per share. Equities analysts anticipate that McKesson Co. will post 32.73 EPS for the current year.

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.