Toronto Dominion Bank Sells 12,588 Shares of McKesson Co. (NYSE:MCK)

Toronto Dominion Bank cut its position in McKesson Co. (NYSE:MCK) by 16.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,435 shares of the company’s stock after selling 12,588 shares during the quarter. Toronto Dominion Bank’s holdings in McKesson were worth $33,518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. Sachetta LLC bought a new position in shares of McKesson in the fourth quarter valued at $27,000. Register Financial Advisors LLC bought a new position in shares of McKesson in the first quarter valued at $29,000. BKM Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter valued at $31,000. Richardson Financial Services Inc. bought a new position in shares of McKesson in the fourth quarter valued at $31,000. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of McKesson by 333.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after buying an additional 50 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total value of $2,180,192.76. Following the completion of the transaction, the chief executive officer now owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total value of $2,180,192.76. Following the completion of the transaction, the chief executive officer now owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Maria Martinez sold 483 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The disclosure for this sale can be found here. Insiders sold a total of 29,567 shares of company stock valued at $16,691,841 over the last quarter. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Up 0.7 %

Shares of MCK traded up $4.43 during midday trading on Friday, reaching $600.16. 633,539 shares of the stock were exchanged, compared to its average volume of 700,718. McKesson Co. has a twelve month low of $395.30 and a twelve month high of $612.17. The company has a market cap of $77.98 billion, a P/E ratio of 26.82, a PEG ratio of 1.37 and a beta of 0.45. The stock’s 50 day simple moving average is $582.73 and its 200 day simple moving average is $542.05.

McKesson (NYSE:MCK) last posted its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $7.19 EPS. As a group, analysts predict that McKesson Co. will post 31.68 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MCK shares. Wells Fargo & Company raised their target price on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Citigroup lifted their price objective on shares of McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Bank of America lifted their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $599.33.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.