McKesson Corporation $MCK Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in shares of McKesson Corporation (NYSE:MCK) by 9.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,093,531 shares of the company’s stock after acquiring an additional 98,853 shares during the period. McKesson comprises about 0.7% of Nordea Investment Management AB’s portfolio, making the stock its 25th largest holding. Nordea Investment Management AB’s holdings in McKesson were worth $837,267,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of MCK. Lynch Asset Management Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at $39,000. Tokio Marine Asset Management Co. Ltd. lifted its stake in McKesson by 2.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,270 shares of the company’s stock valued at $3,299,000 after buying an additional 118 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of McKesson by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 318,711 shares of the company’s stock worth $246,217,000 after buying an additional 3,427 shares during the period. First Horizon Corp purchased a new position in shares of McKesson in the third quarter worth approximately $11,631,000. Finally, MGO One Seven LLC raised its holdings in shares of McKesson by 6.0% during the third quarter. MGO One Seven LLC now owns 4,454 shares of the company’s stock valued at $3,441,000 after acquiring an additional 251 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total value of $225,265.68. Following the completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is currently owned by company insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $825.32 on Tuesday. McKesson Corporation has a one year low of $570.51 and a one year high of $895.58. The business’s 50-day moving average price is $834.59 and its two-hundred day moving average price is $763.69. The company has a market capitalization of $101.87 billion, a P/E ratio of 25.69, a price-to-earnings-growth ratio of 1.34 and a beta of 0.41.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The business had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same period in the previous year, the company earned $7.07 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a dividend of $0.82 per share. The ex-dividend date was Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 10.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MCK shares. Barclays began coverage on shares of McKesson in a research report on Monday, December 8th. They issued an “overweight” rating and a $960.00 price target for the company. Jefferies Financial Group increased their target price on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Mizuho lifted their price target on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, TD Cowen increased their price target on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $892.86.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.