McKesson Corporation $MCK Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC raised its position in shares of McKesson Corporation (NYSE:MCK) by 275.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,920 shares of the company’s stock after acquiring an additional 2,143 shares during the quarter. NewEdge Wealth LLC’s holdings in McKesson were worth $2,396,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Obsidian Personal Planning Solutions LLC boosted its position in McKesson by 2.9% during the third quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock worth $346,000 after acquiring an additional 12 shares during the last quarter. Berkshire Asset Management LLC PA grew its stake in McKesson by 4.6% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company’s stock valued at $227,000 after acquiring an additional 13 shares in the last quarter. Norden Group LLC grew its stake in McKesson by 4.3% during the 4th quarter. Norden Group LLC now owns 317 shares of the company’s stock valued at $260,000 after acquiring an additional 13 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in McKesson by 0.7% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,873 shares of the company’s stock valued at $1,536,000 after acquiring an additional 13 shares in the last quarter. Finally, Red Door Wealth Management LLC grew its stake in McKesson by 3.8% during the 4th quarter. Red Door Wealth Management LLC now owns 358 shares of the company’s stock valued at $293,000 after acquiring an additional 13 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK opened at $735.20 on Wednesday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The stock has a market cap of $88.37 billion, a PE ratio of 19.11, a P/E/G ratio of 1.08 and a beta of 0.35. The firm has a 50-day simple moving average of $869.22 and a two-hundred day simple moving average of $858.69.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the business earned $10.12 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s payout ratio is currently 8.53%.

Insider Buying and Selling

In related news, EVP Michele Lau sold 2,725 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. This represents a 45.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 190 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $945.00, for a total value of $179,550.00. Following the transaction, the executive vice president directly owned 2,989 shares in the company, valued at approximately $2,824,605. The trade was a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,264 shares of company stock valued at $3,205,315. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MCK. TD Cowen upped their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. cut their price target 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. Robert W. Baird set a $968.00 price target on McKesson in a report on Wednesday, January 14th. UBS Group increased their price target on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday. Finally, Raymond James Financial set a $970.00 target price on McKesson in a research note on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $963.20.

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.