Bryn Mawr Capital Management LLC Purchases 1,352 Shares of McKesson Co. (NYSE:MCK)

Bryn Mawr Capital Management LLC boosted its position in shares of McKesson Co. (NYSE:MCK) by 140.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,313 shares of the company’s stock after acquiring an additional 1,352 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in McKesson were worth $1,071,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position in McKesson by 6.1% in the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after buying an additional 8,784 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of McKesson by 6.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares during the period. Insight Wealth Strategies LLC purchased a new stake in shares of McKesson in the 4th quarter worth approximately $1,813,000. Aspire Private Capital LLC lifted its position in McKesson by 3.2% during the third quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock valued at $851,000 after acquiring an additional 60 shares during the last quarter. Finally, Argus Investors Counsel Inc. purchased a new stake in McKesson during the fourth quarter valued at approximately $891,000. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MCK. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Morgan Stanley upped their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Barclays began coverage on shares of McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. SVB Leerink began coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Finally, Citigroup upped their price target on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Stock Up 0.6 %

MCK opened at $543.37 on Friday. The company has a market cap of $71.40 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.43 and a beta of 0.45. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $544.81. The firm’s fifty day simple moving average is $528.15 and its two-hundred day simple moving average is $489.48.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $6.90 earnings per share. On average, research analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is currently 11.24%.

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.