Transcend Capital Advisors LLC Acquires 143 Shares of McKesson Corporation $MCK

Transcend Capital Advisors LLC lifted its holdings in shares of McKesson Corporation (NYSE:MCK) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,304 shares of the company’s stock after purchasing an additional 143 shares during the period. Transcend Capital Advisors LLC’s holdings in McKesson were worth $956,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in shares of McKesson by 22.0% during the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after purchasing an additional 68,294 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of McKesson during the 1st quarter valued at $289,000. Archford Capital Strategies LLC grew its holdings in shares of McKesson by 151.8% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after purchasing an additional 1,372 shares during the last quarter. LPL Financial LLC grew its holdings in shares of McKesson by 12.8% during the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after purchasing an additional 17,750 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in McKesson by 3.3% during the 1st quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock valued at $48,159,000 after buying an additional 2,283 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of a number of recent analyst reports. Leerink Partners upped their price target on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Citigroup upped their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Evercore ISI upped their price target on shares of McKesson from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Finally, Mizuho upped their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $839.15.

McKesson Trading Down 0.7%

Shares of McKesson stock opened at $806.13 on Wednesday. The company’s fifty day simple moving average is $734.38 and its two-hundred day simple moving average is $716.40. The company has a market cap of $100.27 billion, a P/E ratio of 32.14, a PEG ratio of 1.46 and a beta of 0.52. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $812.69.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.88 earnings per share. Analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 24,189 shares of company stock worth $16,722,190. Insiders own 0.08% of the company’s stock.

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.