Sivik Global Healthcare LLC Holds Holdings in McKesson Corporation (MCK)
Sivik Global Healthcare LLC held its position in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,000 shares of the company’s stock at the end of the 2nd quarter. McKesson Corporation accounts for about 1.8% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 21st biggest position. Sivik Global Healthcare LLC’s holdings in McKesson Corporation were worth $4,936,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Wellington Management Group LLP increased its holdings in McKesson Corporation by 0.9% during the 1st quarter. Wellington Management Group LLP now owns 22,730,846 shares of the company’s stock worth $3,370,074,000 after purchasing an additional 192,254 shares during the last quarter. BlackRock Inc. increased its holdings in McKesson Corporation by 8.0% during the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock worth $2,522,396,000 after purchasing an additional 1,131,024 shares during the last quarter. Ballentine Partners LLC purchased a new stake in McKesson Corporation during the 1st quarter worth approximately $191,000. Massachusetts Financial Services Co. MA increased its holdings in McKesson Corporation by 3.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,927,553 shares of the company’s stock worth $730,560,000 after purchasing an additional 180,107 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in McKesson Corporation by 18.0% during the 1st quarter. Alliancebernstein L.P. now owns 2,319,256 shares of the company’s stock worth $343,853,000 after purchasing an additional 354,590 shares during the last quarter. Institutional investors own 85.28% of the company’s stock.
Several equities research analysts have issued reports on MCK shares. TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Barclays PLC set a $187.00 price target on McKesson Corporation and gave the company a “buy” rating in a report on Sunday, June 4th. Vetr upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price target for the company in a report on Thursday, May 25th. Zacks Investment Research upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Wednesday, July 12th. Finally, Jefferies Group LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. McKesson Corporation presently has an average rating of “Hold” and an average target price of $170.91.
In other news, Director M Christine Jacobs sold 1,083 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $145.43, for a total value of $157,500.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,066 shares of company stock valued at $473,627. 1.20% of the stock is currently owned by insiders.
Shares of McKesson Corporation (NYSE MCK) traded down 1.19% on Friday, reaching $149.88. The company had a trading volume of 2,903,086 shares. The company’s 50-day moving average is $152.20 and its 200 day moving average is $153.01. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $169.29. The firm has a market capitalization of $31.51 billion, a PE ratio of 6.80 and a beta of 1.16.
McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.81 by ($0.35). McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. During the same period in the previous year, the company posted $3.50 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that McKesson Corporation will post $12.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a $0.34 dividend. The ex-dividend date is Wednesday, August 30th. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.91%. McKesson Corporation’s dividend payout ratio is presently 6.07%.
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McKesson Corporation Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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