McKesson Corporation $MCK Stock: N10 Wealth LLC Raises Position

N10 Wealth LLC raised its position in McKesson Corporation (NYSE:MCK) by 34.4% during the third quarter, HoldingsChannel.com reports. The firm owned 10,215 shares of the company’s stock after buying an additional 2,616 shares during the quarter. McKesson makes up approximately 2.4% of N10 Wealth LLC’s holdings, making the stock its 18th largest holding. N10 Wealth LLC’s holdings in McKesson were worth $8,722,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MCK. Delos Wealth Advisors LLC acquired a new stake in shares of McKesson during the 2nd quarter valued at about $27,000. Clearstead Trust LLC bought a new stake in shares of McKesson in the 2nd quarter valued at approximately $37,000. GK Wealth Management LLC bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $38,000. Bell Investment Advisors Inc acquired a new position in McKesson in the second quarter worth approximately $39,000. Finally, Security National Bank of SO Dak acquired a new position in McKesson in the second quarter worth approximately $39,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of NYSE MCK traded up $9.99 during mid-day trading on Wednesday, reaching $971.87. 239,880 shares of the company traded hands, compared to its average volume of 930,441. McKesson Corporation has a fifty-two week low of $723.68 and a fifty-two week high of $999.00. The company’s fifty day moving average is $890.43 and its two-hundred day moving average is $834.56. The stock has a market cap of $113.31 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 2.00 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The business had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts forecast that McKesson Corporation will post 44.73 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were paid a $0.94 dividend. The ex-dividend date was Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 10.06%.

Insider Transactions at McKesson

In related news, CAO B Jr sold 111 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the sale, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. This represents a 17.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group raised their price objective on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Leerink Partners boosted their target price on shares of McKesson from $1,030.00 to $1,070.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 7th. Citigroup increased their price target on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. TD Cowen increased their price target on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Mizuho raised their price target on shares of McKesson from $885.00 to $905.00 in a report on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $983.29.

McKesson Profile

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.