Adage Capital Partners GP L.L.C. Purchases 141,795 Shares of McKesson Co. (NYSE:MCK)

Adage Capital Partners GP L.L.C. boosted its position in McKesson Co. (NYSE:MCK - Free Report) by 287.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 191,097 shares of the company's stock after purchasing an additional 141,795 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.15% of McKesson worth $108,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in McKesson during the fourth quarter valued at about $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the 4th quarter worth approximately $32,000. Crews Bank & Trust acquired a new position in shares of McKesson in the 4th quarter worth approximately $33,000. Atala Financial Inc acquired a new stake in McKesson during the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC acquired a new stake in McKesson during the fourth quarter valued at approximately $38,000. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on MCK shares. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Morgan Stanley increased their price target on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Bank of America raised their target price on shares of McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and a consensus price target of $668.50.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company's stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,110 shares of company stock valued at $10,855,706. Corporate insiders own 0.11% of the company's stock.

McKesson Stock Performance

Shares of McKesson stock traded up $6.19 during trading on Friday, hitting $694.62. 731,510 shares of the stock traded hands, compared to its average volume of 892,117. The stock has a market cap of $87.05 billion, a P/E ratio of 31.80, a PEG ratio of 1.29 and a beta of 0.49. The company has a fifty day moving average price of $661.28 and a two-hundred day moving average price of $606.43. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio is 13.00%.

McKesson 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.