Newbridge Financial Services Group Inc. Purchases 53 Shares of McKesson Co. (NYSE:MCK)

Newbridge Financial Services Group Inc. raised its stake in McKesson Co. (NYSE:MCK) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 673 shares of the company’s stock after purchasing an additional 53 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in McKesson were worth $383,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its holdings in McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after buying an additional 734,849 shares during the last quarter. FMR LLC increased its position in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the period. Janus Henderson Group PLC increased its holdings in shares of 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 acquiring an additional 321,119 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several research reports. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Morgan Stanley increased their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Finally, Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Buy” and a consensus target price of $645.79.

McKesson Trading Down 0.7 %

MCK stock opened at $595.77 on Monday. The stock has a market capitalization of $75.63 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The firm has a 50-day moving average price of $588.40 and a 200-day moving average price of $562.74. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities analysts predict that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 864 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

About McKesson

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.