Nordea Investment Management AB Raises Stake in McKesson Co. (NYSE:MCK)

Nordea Investment Management AB boosted its position in McKesson Co. (NYSE:MCK - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 975,935 shares of the company's stock after purchasing an additional 162,688 shares during the quarter. Nordea Investment Management AB owned about 0.77% of McKesson worth $558,606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Massachusetts Financial Services Co. MA grew its holdings in McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock valued at $2,444,175,000 after buying an additional 138,685 shares in the last quarter. FMR LLC grew its holdings in shares of McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company's stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the period. Geode Capital Management LLC increased its position in McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company's stock worth $1,306,873,000 after purchasing an additional 26,299 shares during the last quarter. Legal & General Group Plc raised its stake in McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company's stock worth $757,862,000 after purchasing an additional 36,583 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings 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 purchasing an additional 425,875 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of NYSE:MCK traded up $2.90 during trading on Monday, reaching $580.34. The company had a trading volume of 836,011 shares, compared to its average volume of 639,070. The firm has a market capitalization of $73.67 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. The stock's fifty day moving average price is $584.70 and its 200 day moving average price is $561.54. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.23 earnings per share. On average, equities analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson's payout ratio is currently 14.71%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MCK. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. Evercore ISI lifted their target price on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday. Leerink Partners lowered their target price on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Finally, Morgan Stanley boosted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $648.71.

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.