Denali Advisors LLC Takes $1.28 Million Position in McKesson Corporation $MCK

Denali Advisors LLC acquired a new stake in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 1,701 shares of the company’s stock, valued at approximately $1,285,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Horizon Investments LLC lifted its position in McKesson by 125.4% during the fourth quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock valued at $7,119,000 after purchasing an additional 4,828 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of McKesson by 62.9% in the 4th quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company’s stock worth $2,590,000 after buying an additional 1,219 shares during the last quarter. Walter Public Investments Inc. bought a new position in shares of McKesson in the 4th quarter worth $6,538,000. Artemis Investment Management LLP raised its position in shares of McKesson by 149.9% during the 4th quarter. Artemis Investment Management LLP now owns 11,671 shares of the company’s stock valued at $9,574,000 after buying an additional 7,000 shares in the last quarter. Finally, North Dakota State Investment Board purchased a new stake in shares of McKesson during the 4th quarter valued at $3,969,000. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of McKesson stock opened at $853.53 on Thursday. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00. The business’s 50 day simple moving average is $818.34 and its two-hundred day simple moving average is $843.66. The stock has a market capitalization of $99.51 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter last year, the business earned $8.26 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is currently 8.78%.

Analyst Ratings Changes

MCK has been the subject of several research reports. Wells Fargo & Company upped their target price on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada assumed coverage on McKesson in a research report on Wednesday. They set a “sector perform” rating and a $845.00 price target on the stock. Robert W. Baird set a $1,015.00 price target on McKesson in a research note on Thursday, August 6th. William Blair began coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Finally, Barclays upped their price objective on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.