GAM Holding AG Purchases New Position in McKesson Corporation $MCK

GAM Holding AG purchased a new stake in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,701 shares of the company’s stock, valued at approximately $1,246,000.

A number of other large investors also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of McKesson by 1.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after purchasing an additional 14 shares in the last quarter. Cardinal Point Capital Management ULC lifted its stake in McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after acquiring an additional 14 shares in the last quarter. SteelPeak Wealth LLC lifted its position in shares of McKesson by 0.5% during the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after purchasing an additional 15 shares in the last quarter. Cypress Wealth Services LLC lifted its position in shares of McKesson by 3.7% during the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after purchasing an additional 15 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its position in shares of McKesson by 1.4% during the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock valued at $866,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $811.96 on Friday. The firm has a market cap of $100.99 billion, a PE ratio of 32.37, a PEG ratio of 1.46 and a beta of 0.52. The stock’s fifty day moving average price is $741.39 and its two-hundred day moving average price is $718.80. McKesson Corporation has a 1 year low of $498.32 and a 1 year high of $846.32.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same quarter in the prior year, the firm posted $7.88 earnings per share. The company’s revenue was up 23.4% on a year-over-year basis. Sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is 13.08%.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 24,189 shares of company stock worth $16,722,190. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent analyst reports. Evercore ISI lifted their target price on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Leerink Partners lifted their price target on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $839.15.

About McKesson

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.