Vise Technologies Inc. Takes $5.69 Million Position in McKesson Corporation $MCK

Vise Technologies Inc. purchased a new stake in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,527 shares of the company’s stock, valued at approximately $5,687,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after acquiring an additional 11 shares during the period. Investment Research Partners LLC increased its position in shares of McKesson by 0.7% in the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after buying an additional 11 shares in the last quarter. IHT Wealth Management LLC increased its position in shares of McKesson by 0.9% in the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after buying an additional 11 shares in the last quarter. LRI Investments LLC raised its stake in shares of McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after buying an additional 12 shares during the period. Finally, Macroview Investment Management LLC raised its stake in shares of McKesson by 3.9% during the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. This trade represents a 17.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% 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 29,049 shares of company stock valued at $22,530,626 in the last ninety days. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MCK. Citigroup lifted their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. UBS Group upped their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. William Blair began coverage on shares of McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Finally, Barclays boosted their target price on shares of McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $973.44.

McKesson Stock Performance

Shares of MCK opened at $841.21 on Friday. The stock has a 50 day moving average price of $819.40 and a 200 day moving average price of $843.73. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00. The stock has a market capitalization of $98.08 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.68 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter in the previous year, the company posted $8.26 EPS. The firm’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. On average, analysts predict that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared 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. The ex-dividend date is Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.06%.

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.