2,012,870 Shares in McKesson Corporation $MCK Bought by Norges Bank

Norges Bank purchased a new position in McKesson Corporation (NYSE:MCK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,012,870 shares of the company’s stock, valued at approximately $1,651,137,000.

Several other large investors also recently bought and sold shares of MCK. Swedbank AB raised its position in shares of McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after buying an additional 263,189 shares in the last quarter. SurgoCap Partners LP raised its position in shares of McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after buying an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of McKesson by 73.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after buying an additional 183,590 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of McKesson during the 3rd quarter valued at about $135,352,000. Finally, Danske Bank A S purchased a new stake in shares of McKesson during the 3rd quarter valued at about $127,487,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MCK. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Leerink Partners restated an “outperform” rating and set a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Finally, Bank of America decreased their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $968.87.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president directly owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 8,663 shares of company stock worth $7,217,102 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

McKesson Price Performance

McKesson stock opened at $741.47 on Friday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The firm has a market capitalization of $89.13 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.13 and a beta of 0.35. The company’s 50-day moving average is $819.93 and its 200 day moving average is $852.44.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping 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 company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the company posted $10.12 EPS. The firm’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. Research analysts anticipate that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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 given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio is 8.53%.

McKesson 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.