Paralel Advisors LLC Invests $2.02 Million in McKesson Corporation $MCK

Paralel Advisors LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,670 shares of the company’s stock, valued at approximately $2,017,000.

Several other large investors have also recently modified their holdings of MCK. Vanguard Group Inc. lifted its holdings in shares of McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after purchasing an additional 73,109 shares in the last quarter. BlackRock Inc. purchased a new position in McKesson in the 2nd quarter worth about $8,156,743,000. State Street Corp raised its position in McKesson by 0.5% in the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after buying an additional 29,660 shares during the last quarter. Geode Capital Management LLC lifted its stake in McKesson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after acquiring an additional 25,082 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of McKesson by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after acquiring an additional 144,633 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK opened at $841.21 on Friday. The stock has a market cap of $98.08 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 1.68 and a beta of 0.30. The firm’s fifty day moving average is $819.40 and its 200 day moving average is $843.73. McKesson Corporation has a fifty-two week low of $673.38 and a fifty-two week high of $999.00.

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

McKesson Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Citigroup boosted their target price on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. lowered their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Royal Bank Of Canada assumed coverage on McKesson in a research note on Wednesday. They issued a “sector perform” rating and a $845.00 price target on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

Insider Buying and Selling at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares in the company, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,049 shares of company stock worth $22,530,626 over the last three months. 0.06% of the stock is owned by company insiders.

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.