SurgoCap Partners LP Has $343.84 Million Stake in McKesson Corporation $MCK

SurgoCap Partners LP lessened its holdings in McKesson Corporation (NYSE:MCK) by 7.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 419,166 shares of the company’s stock after selling 33,095 shares during the period. McKesson accounts for approximately 9.5% of SurgoCap Partners LP’s holdings, making the stock its 4th largest position. SurgoCap Partners LP’s holdings in McKesson were worth $343,838,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MCK. Brighton Jones LLC increased its position in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the period. Caxton Associates LLP acquired a new stake in shares of McKesson during the 1st quarter worth approximately $233,000. Sivia Capital Partners LLC grew its position in shares of McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares during the period. Treasurer of the State of North Carolina grew its position in shares of McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after buying an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new stake in shares of McKesson during the 2nd quarter worth approximately $166,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MCK shares. Barclays reduced their price objective on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Wells Fargo & Company reduced their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Leerink Partners reaffirmed an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Activity

In other news, CEO Brian S. Tyler sold 4,929 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $763.00, for a total value of $3,760,827.00. Following the completion of the sale, the chief executive officer owned 22,845 shares in the company, valued at $17,430,735. This represents a 17.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 11,822 shares of company stock worth $8,986,212. 0.08% of the stock is owned by insiders.

McKesson Price Performance

MCK opened at $779.35 on Tuesday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The company has a market capitalization of $93.68 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 1.29 and a beta of 0.31. The firm’s fifty day moving average price is $795.97 and its two-hundred day moving average price is $845.41.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the prior year, the business posted $10.12 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 8.53%.

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.