Y Intercept Hong Kong Ltd Raises Holdings in McKesson Corporation $MCK

Y Intercept Hong Kong Ltd grew its holdings in McKesson Corporation (NYSE:MCK) by 3,836.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,652 shares of the company’s stock after buying an additional 16,229 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in McKesson were worth $14,410,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MCK. Norges Bank purchased a new position in McKesson in the fourth quarter worth $1,651,137,000. Swedbank AB lifted its holdings in McKesson by 42.2% in the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after acquiring an additional 263,189 shares during the period. SurgoCap Partners LP boosted its position in shares of McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock worth $349,390,000 after purchasing an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of McKesson by 73.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock worth $354,839,000 after purchasing an additional 183,590 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of McKesson during the 3rd quarter worth $135,352,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

McKesson stock opened at $786.17 on Friday. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The company has a market capitalization of $92.05 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.26 and a beta of 0.31. The stock has a fifty day moving average of $770.09 and a two-hundred day moving average of $839.35.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson’s dividend payout ratio is 8.53%.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the completion of the transaction, the chief executive officer directly owned 14,382 shares of the company’s stock, valued at $11,147,919.66. This trade represents a 37.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,285 shares of company stock valued at $15,546,137 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Wells Fargo & Company lowered their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. William Blair began coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Finally, Raymond James Financial set a $970.00 price target on McKesson in a research note on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $960.53.

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.