Osmosis Investment Management UK Ltd Takes Position in McKesson Corporation $MCK

Osmosis Investment Management UK Ltd purchased a new position in McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,080 shares of the company’s stock, valued at approximately $6,105,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC acquired a new stake in McKesson during the second quarter valued at $24,212,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in McKesson in the 2nd quarter worth about $40,026,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in McKesson in the 2nd quarter worth about $895,000. Te Ahumairangi Investment Management Ltd purchased a new stake in shares of McKesson during the 2nd quarter worth about $5,339,000. Finally, Haverford Financial Services Inc. purchased a new stake in shares of McKesson during the 2nd quarter worth about $7,227,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK stock opened at $862.27 on Monday. The stock’s 50 day simple moving average is $820.97 and its 200 day simple moving average is $843.84. McKesson Corporation has a twelve month low of $673.38 and a twelve month high of $999.00. The company has a market capitalization of $100.53 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.69 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter last year, the firm posted $8.26 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts forecast that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is 10.06%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MCK shares. JPMorgan Chase & Co. lowered their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research note on Thursday, August 6th. Wells Fargo & Company boosted their target price on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings lowered shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $973.44.

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’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 value of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This trade represents a 58.84% 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. Insiders sold a total of 29,049 shares of company stock valued at $22,530,626 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

About McKesson

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.