Orion Portfolio Solutions LLC increased its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,141 shares of the company's stock after purchasing an additional 1,108 shares during the quarter. Orion Portfolio Solutions LLC's holdings in McKesson were worth $9,958,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in MCK. Distillate Capital Partners LLC lifted its stake in McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock valued at $20,874,000 after buying an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp lifted its stake in McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock valued at $5,247,000 after buying an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC lifted its stake in McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company's stock valued at $948,000 after buying an additional 133 shares during the last quarter. Vaughan David Investments LLC IL bought a new stake in McKesson in the second quarter valued at $238,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in McKesson by 2,143.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company's stock valued at $851,000 after buying an additional 1,393 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on MCK. JPMorgan Chase & Co. raised their target price on McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Mizuho began coverage on McKesson in a report on Wednesday. They set a "neutral" rating and a $630.00 price target on the stock. Wells Fargo & Company lowered their price target on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Finally, Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Two investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $635.86.
Check Out Our Latest Research Report on MCK
McKesson Stock Performance
Shares of NYSE:MCK traded down $3.99 during midday trading on Friday, reaching $603.53. The company had a trading volume of 730,596 shares, compared to its average volume of 826,811. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The firm has a market cap of $76.61 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 1.32 and a beta of 0.49. The company has a fifty day simple moving average of $554.83 and a two-hundred day simple moving average of $561.91.
McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data 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 negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the company posted $6.23 EPS. The business's quarterly revenue was up 21.3% compared to the same quarter last year. Analysts expect that McKesson Co. will post 32.73 EPS for the current year.
McKesson Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson's dividend payout ratio is 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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