Aigen Investment Management LP Invests $1.75 Million in McKesson Co. (NYSE:MCK)

Aigen Investment Management LP acquired a new position in shares of McKesson Co. (NYSE:MCK) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,540 shares of the company’s stock, valued at approximately $1,750,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in shares of McKesson during the 1st quarter worth $28,000. Wolff Wiese Magana LLC boosted its holdings in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in McKesson during the third quarter worth about $40,000. Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson during the 2nd quarter valued at approximately $52,000. Finally, Centennial Bank AR purchased a new stake in shares of McKesson during the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several research reports. Citigroup reduced their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company dropped their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Barclays increased their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $625.64.

McKesson Trading Up 1.0 %

NYSE MCK traded up $6.37 during mid-day trading on Tuesday, reaching $621.96. 81,059 shares of the company’s stock traded hands, compared to its average volume of 820,773. The company has a market cap of $80.66 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 1.39 and a beta of 0.44. The company has a fifty day simple moving average of $514.12 and a 200-day simple moving average of $552.38. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.23 EPS. Equities research analysts forecast that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate insiders.

McKesson Company 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.