Flputnam Investment Management Co. Sells 914 Shares of McKesson Corporation $MCK

Flputnam Investment Management Co. lessened its stake in shares of McKesson Corporation (NYSE:MCK) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,864 shares of the company’s stock after selling 914 shares during the quarter. Flputnam Investment Management Co.’s holdings in McKesson were worth $35,411,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. bought a new position in McKesson during the 4th quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in McKesson in the fourth quarter worth $26,000. Delos Wealth Advisors LLC bought a new stake in shares of McKesson during the second quarter worth $27,000. State of Wyoming acquired a new stake in shares of McKesson in the second quarter valued at $29,000. Finally, Kingdom Financial Group LLC. bought a new position in shares of McKesson in the fourth quarter valued at about $33,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 0.6%

Shares of McKesson stock opened at $895.59 on Friday. The stock’s fifty day simple moving average is $833.31 and its 200 day simple moving average is $844.13. The company has a market capitalization of $104.42 billion, a PE ratio of 23.97, a PEG ratio of 1.76 and a beta of 0.30. McKesson Corporation has a 12 month low of $679.65 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $103.88 billion. During the same quarter in the previous year, the firm posted $8.26 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts predict that McKesson Corporation will post 44.65 EPS for the current fiscal 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 paid a $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio is 8.78%.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The disclosure for this sale is available in the SEC filing. Insiders sold 23,111 shares of company stock worth $18,011,274 in the last three months. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCK. Barclays raised their price target on shares of McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. UBS Group upped their price target on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Citigroup boosted their price objective on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $973.44.

McKesson News Summary

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Expansion into precision medicine: McKesson agreed to acquire privately held Precision Medicine Group for approximately $2.25 billion. Precision Medicine provides clinical research, laboratory testing and commercialization services for biotechnology and pharmaceutical companies, giving McKesson greater exposure to oncology, personalized medicine and specialty care. McKesson Doubles Down on Healthcare Growth With Precision Medicine Acquisition
• Positive Sentiment: Higher-growth service mix: The acquisition is expected to strengthen McKesson’s clinical research and commercialization capabilities and deepen relationships with biopharmaceutical companies and oncology practices. Investors may view the transaction as a way to reduce reliance on lower-margin pharmaceutical distribution and participate in growth tied to new drug development. What Does McKesson Gain From Its Push Into Oncology And Clinical Research?
• Neutral Sentiment: Portfolio repositioning amid workforce changes: Coverage noted layoffs at Rx Savings while McKesson plans the Precision Medicine acquisition. The combination highlights an ongoing reallocation of resources, although the near-term effect on earnings and integration costs remains uncertain. Amid Layoffs, McKesson Plans Acquisition
• Negative Sentiment: Cybersecurity incident disclosed: McKesson reported discovering a cybersecurity incident on August 25 after the ShinyHunters group claimed it had stolen patient data. The company’s investigation and any resulting regulatory, remediation, privacy or reputational costs could weigh on sentiment, although the ultimate scope and financial impact were not yet clear. McKesson Discloses Breach After ShinyHunters Claims Patient Data Theft

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.