Vertrix Wealth Management LLC Acquires Shares of 4,655 McKesson Corporation $MCK

Vertrix Wealth Management LLC acquired a new stake in McKesson Corporation (NYSE:MCK) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,655 shares of the company’s stock, valued at approximately $4,028,000. McKesson comprises about 1.5% of Vertrix Wealth Management LLC’s portfolio, making the stock its 28th largest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in McKesson during the fourth quarter valued at $1,651,137,000. Swedbank AB grew its position in McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after purchasing an additional 263,189 shares during the period. SurgoCap Partners LP grew its position in McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock worth $349,390,000 after purchasing an additional 184,106 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of McKesson by 73.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after buying an additional 183,590 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new position in shares of McKesson during the 3rd quarter valued at about $135,352,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 1.8%

Shares of MCK opened at $768.98 on Thursday. The firm has a market cap of $90.03 billion, a P/E ratio of 19.99, a PEG ratio of 1.24 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock’s 50 day moving average is $771.21 and its two-hundred day moving average is $839.55.

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

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a dividend of $0.82 per share. The ex-dividend date was Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 8.53%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MCK shares. Barclays lowered their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Raymond James Financial set a $970.00 price target on McKesson in a research report on Thursday, March 5th. JPMorgan Chase & Co. lowered their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Leerink Partners reaffirmed an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Finally, Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $960.53.

Insider Activity at McKesson

In related news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 20,285 shares of company stock valued at $15,546,137. Insiders own 0.06% of the company’s stock.

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.