Weiss Asset Management LP purchased a new stake in McKesson Co. (NYSE:MCK - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,862 shares of the company's stock, valued at approximately $921,000.
A number of other large investors have also added to or reduced their stakes in MCK. International Assets Investment Management LLC raised its stake in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock valued at $398,937,000 after acquiring an additional 734,849 shares during the period. FMR LLC raised its stake in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company's stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the period. The Manufacturers Life Insurance Company raised its stake in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock valued at $588,048,000 after acquiring an additional 425,875 shares during the period. Janus Henderson Group PLC increased its position in McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock worth $283,903,000 after buying an additional 321,119 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock worth $2,444,175,000 after buying an additional 138,685 shares during the period. Institutional investors own 85.07% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on MCK. Mizuho began coverage on McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective on the stock. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Citigroup increased their price objective on McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, Leerink Partners lowered their price objective on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $635.86.
Read Our Latest Analysis on McKesson
McKesson Price Performance
NYSE:MCK traded down $11.68 during trading hours on Monday, hitting $591.85. The company's stock had a trading volume of 970,514 shares, compared to its average volume of 817,744. The stock has a fifty day simple moving average of $556.78 and a 200-day simple moving average of $562.15. The company has a market capitalization of $75.13 billion, a P/E ratio of 30.65, a PEG ratio of 1.30 and a beta of 0.49. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.
McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson's revenue was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $6.23 earnings per share. On average, equities analysts predict that McKesson Co. will post 32.73 EPS for the current fiscal year.
McKesson Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is presently 14.71%.
About McKesson
(
Free Report)
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.
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