Proficio Capital Partners LLC Takes Position in McKesson Corporation $MCK

Proficio Capital Partners LLC acquired a new position in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 625 shares of the company’s stock, valued at approximately $472,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCK. University of Texas Texas AM Investment Management Co. acquired a new position in shares of McKesson in the 4th quarter worth $25,000. Swiss RE Ltd. acquired a new position in shares of McKesson in the 4th quarter valued at $26,000. Delos Wealth Advisors LLC purchased a new position in McKesson in the 2nd quarter worth about $27,000. State of Wyoming purchased a new position in McKesson in the 2nd quarter worth about $29,000. Finally, Kingdom Financial Group LLC. acquired a new stake in McKesson during the 4th quarter worth about $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. reduced their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Wells Fargo & Company raised their target price on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Finally, Royal Bank Of Canada assumed coverage on McKesson in a research report on Wednesday, August 19th. They set a “sector perform” rating and a $845.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $973.44.

McKesson Price Performance

Shares of NYSE:MCK opened at $927.16 on Thursday. The stock has a market capitalization of $108.10 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.80 and a beta of 0.30. The business has a 50-day moving average of $842.13 and a two-hundred day moving average of $842.72. McKesson Corporation has a fifty-two week low of $682.35 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the prior year, the firm posted $8.26 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is 10.06%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The SEC filing for this sale provides additional information. Insiders sold a total of 22,289 shares of company stock valued at $17,406,854 in the last quarter. Insiders own 0.06% of the company’s stock.

About McKesson

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.