Gaddis Premier Wealth Advisors LLC Buys New Shares in McKesson Corporation $MCK

Gaddis Premier Wealth Advisors LLC purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 924 shares of the company’s stock, valued at approximately $800,000.

Other large investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in McKesson in the fourth quarter valued at about $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson in the 4th quarter worth about $26,000. State of Wyoming acquired a new stake in McKesson during the second quarter valued at approximately $29,000. Board of the Pension Protection Fund bought a new position in McKesson during the fourth quarter worth $33,000. Finally, Kingdom Financial Group LLC. bought a new position in shares of McKesson in the 4th quarter worth about $33,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCK has been the subject of a number of analyst reports. Barclays reduced their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. UBS Group upped their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Wells Fargo & Company decreased their target price 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. Finally, William Blair began coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 that occurred on 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 completion of the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% 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. Insiders sold 28,748 shares of company stock worth $22,262,035 in the last three months. 0.06% of the stock is currently owned by company insiders.

McKesson Stock Up 5.5%

Shares of NYSE MCK opened at $840.18 on Friday. The stock has a market cap of $98.37 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.31 and a beta of 0.31. The firm’s 50-day simple moving average is $769.18 and its 200 day simple moving average is $838.30. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm posted $10.12 EPS. McKesson’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. On average, sell-side analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

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