Healthcare of Ontario Pension Plan Trust Fund Grows Stake in McKesson Corporation $MCK

Healthcare of Ontario Pension Plan Trust Fund boosted its position in McKesson Corporation (NYSE:MCK) by 4,300.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214,693 shares of the company’s stock after buying an additional 209,814 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in McKesson were worth $185,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of MCK. Horizon Investments LLC boosted its holdings in McKesson by 125.4% in the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock valued at $7,119,000 after purchasing an additional 4,828 shares during the period. Northstar Advisory Group LLC increased its holdings in shares of McKesson by 133.4% in the fourth quarter. Northstar Advisory Group LLC now owns 3,704 shares of the company’s stock worth $3,038,000 after purchasing an additional 2,117 shares during the period. J. Safra Sarasin Holding AG purchased a new stake in shares of McKesson in the fourth quarter worth $2,481,000. Mn Services Vermogensbeheer B.V. raised its position in shares of McKesson by 2.8% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 48,721 shares of the company’s stock worth $39,965,000 after buying an additional 1,321 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in McKesson by 18.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,526 shares of the company’s stock valued at $25,860,000 after buying an additional 4,964 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. William Blair began coverage on McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Barclays dropped their price target 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. JPMorgan Chase & Co. cut their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Bank of America decreased their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Wells Fargo & Company lowered their target price on shares of 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 equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $962.67.

More McKesson News

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson boosted its quarterly dividend to $0.94 per share from $0.82, signaling management confidence in cash flow and returning more capital to shareholders. McKesson Raises Quarterly Dividend by 15%
• Positive Sentiment: Shareholders backed the board, auditors, and executive compensation at the annual meeting, reducing governance uncertainty. McKesson Shareholders Back Board, Auditors, and Executive Pay
• Neutral Sentiment: Recent commentary from analysts has been mixed, with one piece noting conflicting views on McKesson and other healthcare names, which may keep sentiment balanced in the near term. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Neutral Sentiment: TD Cowen reportedly lowered expectations for McKesson’s stock price, adding a cautionary note despite the company’s strong operational backdrop. TD Cowen Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 stock in a transaction that occurred on 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 transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. The trade was 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. Over the last 90 days, insiders have sold 28,748 shares of company stock worth $22,262,035. 0.06% of the stock is owned by corporate insiders.

McKesson Stock Up 2.0%

MCK opened at $840.76 on Friday. The business’s fifty day simple moving average is $780.04 and its 200 day simple moving average is $838.46. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The stock has a market cap of $98.43 billion, a PE ratio of 21.85, a P/E/G ratio of 1.36 and a beta of 0.31.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) 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 firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the previous year, the company posted $10.12 earnings per share. The company’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. As a group, equities analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is 9.77%.

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.