Royal London Asset Management Ltd. Buys 1,216 Shares of McKesson Corporation $MCK

Royal London Asset Management Ltd. boosted its stake in McKesson Corporation (NYSE:MCK) by 1.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 112,241 shares of the company’s stock after acquiring an additional 1,216 shares during the quarter. Royal London Asset Management Ltd.’s holdings in McKesson were worth $84,809,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Horizon Investments LLC increased its holdings in shares of McKesson by 125.4% in the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock valued at $7,119,000 after purchasing an additional 4,828 shares in the last quarter. Walter Public Investments Inc. purchased a new position in McKesson in the fourth quarter valued at about $6,538,000. Summit Global Investments purchased a new position in McKesson in the second quarter valued at about $1,159,000. One Wealth Advisors LLC acquired a new stake in shares of McKesson during the 2nd quarter valued at approximately $1,494,000. Finally, Artemis Investment Management LLP lifted its position in shares of McKesson by 149.9% during the 4th quarter. Artemis Investment Management LLP now owns 11,671 shares of the company’s stock valued at $9,574,000 after acquiring an additional 7,000 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares in the company, valued at $1,667,592.36. The trade was a 23.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,111 shares of company stock valued at $18,011,274 in the last quarter. Corporate insiders own 0.06% of the company’s stock.

Key Headlines Impacting McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Expansion into precision medicine: McKesson agreed to acquire privately held Precision Medicine Group for approximately $2.25 billion. Precision Medicine provides clinical research, laboratory testing and commercialization services for biotechnology and pharmaceutical companies, giving McKesson greater exposure to oncology, personalized medicine and specialty care. McKesson Doubles Down on Healthcare Growth With Precision Medicine Acquisition
• Positive Sentiment: Higher-growth service mix: The acquisition is expected to strengthen McKesson’s clinical research and commercialization capabilities and deepen relationships with biopharmaceutical companies and oncology practices. Investors may view the transaction as a way to reduce reliance on lower-margin pharmaceutical distribution and participate in growth tied to new drug development. What Does McKesson Gain From Its Push Into Oncology And Clinical Research?
• Neutral Sentiment: Portfolio repositioning amid workforce changes: Coverage noted layoffs at Rx Savings while McKesson plans the Precision Medicine acquisition. The combination highlights an ongoing reallocation of resources, although the near-term effect on earnings and integration costs remains uncertain. Amid Layoffs, McKesson Plans Acquisition
• Negative Sentiment: Cybersecurity incident disclosed: McKesson reported discovering a cybersecurity incident on August 25 after the ShinyHunters group claimed it had stolen patient data. The company’s investigation and any resulting regulatory, remediation, privacy or reputational costs could weigh on sentiment, although the ultimate scope and financial impact were not yet clear. McKesson Discloses Breach After ShinyHunters Claims Patient Data Theft

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research reports. Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. UBS Group lifted their price objective on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. TD Cowen upped their target price on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. 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 research note on Friday, May 8th. Finally, Citigroup boosted their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $973.44.

McKesson Price Performance

Shares of McKesson stock opened at $895.59 on Friday. McKesson Corporation has a 1 year low of $679.65 and a 1 year high of $999.00. The company has a market capitalization of $104.42 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.75 and a beta of 0.30. The business has a 50 day moving average price of $833.31 and a 200 day moving average price of $844.13.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter in the prior year, the firm earned $8.26 EPS. McKesson’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is currently 8.78%.

About McKesson

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.