Parkman Healthcare Partners LLC Purchases Shares of 23,000 McKesson Co. (NYSE:MCK)

Parkman Healthcare Partners LLC bought a new position in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 23,000 shares of the company’s stock, valued at approximately $13,108,000. McKesson accounts for approximately 1.7% of Parkman Healthcare Partners LLC’s portfolio, making the stock its 20th largest holding.

Other institutional investors also recently bought and sold shares of the company. Frank Rimerman Advisors LLC grew its stake in shares of McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after buying an additional 17 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after purchasing an additional 18 shares during the last quarter. First Western Trust Bank raised its stake in McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock valued at $531,000 after acquiring an additional 18 shares during the last quarter. Finally, Calamos Wealth Management LLC raised its stake in McKesson by 0.4% during the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after acquiring an additional 20 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of NYSE:MCK opened at $687.93 on Wednesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.48. The firm has a market capitalization of $86.22 billion, a P/E ratio of 31.50, a P/E/G ratio of 1.29 and a beta of 0.53. The stock has a 50 day moving average price of $680.08 and a 200-day moving average price of $623.42.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company’s revenue was up 18.9% compared to the same quarter last year. During the same period last year, the business posted $6.18 EPS. On average, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson’s dividend payout ratio is currently 10.99%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Bank of America raised their price objective on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Mizuho raised their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Finally, Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $686.69.

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.