PFM Health Sciences LP grew its position in McKesson Co. (NYSE:MCK) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 356,231 shares of the company’s stock after acquiring an additional 47,244 shares during the quarter. McKesson comprises approximately 2.1% of PFM Health Sciences LP’s portfolio, making the stock its 13th biggest position. PFM Health Sciences LP’s holdings in McKesson were worth $69,479,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. TRU Independence Asset Management 2 LLC acquired a new stake in shares of McKesson during the fourth quarter worth $25,000. Encompass Wealth Advisors LLC acquired a new stake in shares of McKesson during the fourth quarter worth $25,000. Savior LLC lifted its holdings in shares of McKesson by 59.4% during the first quarter. Savior LLC now owns 153 shares of the company’s stock worth $30,000 after purchasing an additional 57 shares during the period. Childress Capital Advisors LLC acquired a new stake in shares of McKesson during the fourth quarter worth $33,000. Finally, Capital Analysts LLC acquired a new stake in shares of McKesson during the first quarter worth $39,000. 85.28% of the stock is owned by institutional investors and hedge funds.
Shares of MCK stock traded up $0.41 during mid-day trading on Thursday, reaching $197.95. The stock had a trading volume of 13,966 shares, compared to its average volume of 1,326,648. McKesson Co. has a 12-month low of $141.32 and a 12-month high of $204.66. The firm has a market capitalization of $31.31 billion, a P/E ratio of -6.90, a P/E/G ratio of 1.47 and a beta of 0.88. The firm’s 50-day moving average is $192.74. The company has a debt-to-equity ratio of 82.70, a quick ratio of 0.59 and a current ratio of 1.03.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 1st. Investors of record on Tuesday, June 1st were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date was Monday, May 31st. McKesson’s dividend payout ratio is presently 9.76%.
In related news, CEO Brian S. Tyler sold 6,798 shares of McKesson stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $200.00, for a total transaction of $1,359,600.00. Following the completion of the sale, the chief executive officer now owns 12,192 shares in the company, valued at approximately $2,438,400. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lori A. Schechter sold 3,000 shares of McKesson stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $200.00, for a total value of $600,000.00. Following the sale, the executive vice president now owns 3,000 shares of the company’s stock, valued at approximately $600,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,999 shares of company stock valued at $2,784,193. 0.28% of the stock is currently owned by company insiders.
Several brokerages recently weighed in on MCK. Credit Suisse Group increased their price target on McKesson from $192.00 to $222.00 and gave the stock a “neutral” rating in a report on Monday, May 10th. The Goldman Sachs Group raised their target price on McKesson from $231.00 to $257.00 and gave the company a “buy” rating in a report on Friday, May 7th. Argus raised McKesson from a “hold” rating to a “buy” rating and set a $230.00 target price for the company in a report on Tuesday, March 30th. Deutsche Bank Aktiengesellschaft raised their target price on McKesson from $231.00 to $237.00 and gave the company a “buy” rating in a report on Friday, May 7th. Finally, Mizuho raised their target price on McKesson from $190.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, May 12th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. McKesson presently has a consensus rating of “Buy” and an average price target of $218.33.
McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).
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