Bridgewater Associates LP Sells 11,028 Shares of McKesson Co. (NYSE:MCK)

Bridgewater Associates LP trimmed its holdings in McKesson Co. (NYSE:MCK - Free Report) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 246,237 shares of the company's stock after selling 11,028 shares during the period. Bridgewater Associates LP owned about 0.19% of McKesson worth $121,744,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. RFP Financial Group LLC lifted its stake in McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company's stock valued at $112,000 after buying an additional 17 shares in the last quarter. Modera Wealth Management LLC lifted its position in McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock valued at $470,000 after acquiring an additional 17 shares in the last quarter. Larson Financial Group LLC boosted its stake in McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock worth $639,000 after purchasing an additional 17 shares during the period. Lester Murray Antman dba SimplyRich increased its holdings in McKesson by 0.4% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company's stock worth $2,935,000 after purchasing an additional 19 shares in the last quarter. Finally, Black Diamond Financial LLC raised its stake in shares of McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock valued at $754,000 after purchasing an additional 19 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the company's stock in a transaction that occurred on 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 approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

MCK has been the subject of a number of research reports. Barclays increased their price objective on McKesson from $596.00 to $616.00 and gave the stock an "overweight" rating in a report on Thursday, August 8th. StockNews.com upgraded shares of McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. increased their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Finally, Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $631.57.

McKesson Trading Up 1.3 %

NYSE:MCK opened at $625.00 on Wednesday. The stock has a 50 day simple moving average of $535.14 and a 200 day simple moving average of $558.45. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The stock has a market cap of $79.34 billion, a P/E ratio of 32.37, a PEG ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during 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 business's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.23 EPS. As a group, sell-side analysts forecast that McKesson Co. will post 32.78 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.45%. McKesson's dividend payout ratio is 14.71%.

About McKesson

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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