Danica Pension Livsforsikringsaktieselskab Has $63.49 Million Position in McKesson Corporation $MCK

Danica Pension Livsforsikringsaktieselskab lowered its position in shares of McKesson Corporation (NYSE:MCK) by 61.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,374 shares of the company’s stock after selling 118,772 shares during the quarter. McKesson comprises 1.2% of Danica Pension Livsforsikringsaktieselskab’s holdings, making the stock its 17th biggest position. Danica Pension Livsforsikringsaktieselskab’s holdings in McKesson were worth $63,495,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. bought a new position in shares of McKesson during the fourth quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson in the fourth quarter valued at approximately $26,000. State of Wyoming acquired a new stake in McKesson during the second quarter worth approximately $29,000. Kingdom Financial Group LLC. bought a new position in McKesson during the 4th quarter worth $33,000. Finally, Birchwood Financial Partners Inc. bought a new position in McKesson during the 4th quarter worth $33,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MCK shares. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Bank of America decreased their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. JPMorgan Chase & Co. dropped their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Citigroup cut their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Finally, Wells Fargo & Company decreased their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. 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.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $959.00.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was 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 have sold 28,748 shares of company stock valued at $22,262,035 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

McKesson Stock Down 0.4%

MCK stock opened at $828.08 on Wednesday. The firm has a market cap of $96.95 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 1.37 and a beta of 0.31. The company’s fifty day simple moving average is $775.33 and its 200 day simple moving average is $838.48. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

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

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.