McKesson Co. (NYSE:MCK) Shares Purchased by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC raised its position in McKesson Co. (NYSE:MCK - Free Report) by 457.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,336 shares of the company's stock after buying an additional 1,917 shares during the quarter. Icon Wealth Advisors LLC's holdings in McKesson were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in McKesson during the 1st quarter valued at approximately $81,000. 1832 Asset Management L.P. acquired a new position in McKesson during the first quarter worth $102,000. LRI Investments LLC purchased a new stake in McKesson during the first quarter worth $177,000. Bellevue Group AG grew its holdings in McKesson by 85.4% in the first quarter. Bellevue Group AG now owns 8,997 shares of the company's stock valued at $4,830,000 after purchasing an additional 4,144 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of McKesson by 5.7% in the first quarter. Public Employees Retirement System of Ohio now owns 87,520 shares of the company's stock valued at $46,985,000 after buying an additional 4,727 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCK. Leerink Partners lowered their price objective on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Wells Fargo & Company cut their price objective on McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. Evercore ISI increased their target price on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Finally, Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Two 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $631.57.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the company's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company's stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.11% of the company's stock.

McKesson Price Performance

NYSE MCK traded down $5.08 during trading hours on Friday, hitting $623.19. The company had a trading volume of 512,790 shares, compared to its average volume of 979,439. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The company has a market capitalization of $79.11 billion, a price-to-earnings ratio of 32.27, a P/E/G ratio of 1.36 and a beta of 0.44. The firm's 50 day moving average is $530.98 and its 200 day moving average is $557.36.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. During the same period in the previous year, the company posted $6.23 earnings per share. The business's revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities analysts anticipate that McKesson Co. will post 32.78 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson's payout ratio is 14.71%.

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.