McKesson Co. (NYSE:MCK) Shares Sold by United Asset Strategies Inc.

United Asset Strategies Inc. lowered its stake in McKesson Co. (NYSE:MCK) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 20,130 shares of the company’s stock after selling 140 shares during the quarter. United Asset Strategies Inc.’s holdings in McKesson were worth $9,320,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in MCK. Cullen Investment Group LTD. acquired a new stake in McKesson during the 4th quarter worth $401,000. Waldron Private Wealth LLC raised its holdings in shares of McKesson by 19.0% during the 4th quarter. Waldron Private Wealth LLC now owns 907 shares of the company’s stock worth $420,000 after acquiring an additional 145 shares during the period. Beverly Hills Private Wealth LLC purchased a new position in shares of McKesson during the 4th quarter worth $252,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of McKesson by 321.4% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,432 shares of the company’s stock worth $3,885,000 after acquiring an additional 6,431 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new position in shares of McKesson during the 4th quarter worth $1,414,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of several research analyst reports. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Citigroup boosted their price target on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. SVB Leerink assumed coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Barclays assumed coverage on shares of McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. Finally, Argus boosted their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Stock Performance

NYSE MCK traded up $4.17 on Tuesday, reaching $526.85. The stock had a trading volume of 117,091 shares, compared to its average volume of 688,750. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $543.00. The business’s 50-day moving average price is $523.34 and its 200 day moving average price is $484.53. The stock has a market cap of $69.23 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the previous year, the business earned $6.90 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

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.