Sivik Global Healthcare LLC Acquires 2,500 Shares of McKesson Corporation $MCK

Sivik Global Healthcare LLC grew its holdings in McKesson Corporation (NYSE:MCK) by 62.5% in the 3rd quarter, Holdings Channel reports. The fund owned 6,500 shares of the company’s stock after purchasing an additional 2,500 shares during the quarter. McKesson comprises 3.4% of Sivik Global Healthcare LLC’s portfolio, making the stock its 7th biggest holding. Sivik Global Healthcare LLC’s holdings in McKesson were worth $5,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Delos Wealth Advisors LLC acquired a new position in McKesson during the 2nd quarter valued at $27,000. Clearstead Trust LLC acquired a new stake in McKesson in the 2nd quarter worth $37,000. GK Wealth Management LLC acquired a new stake in McKesson in the 3rd quarter worth $38,000. Bell Investment Advisors Inc bought a new position in shares of McKesson during the 2nd quarter worth about $39,000. Finally, Security National Bank of SO Dak bought a new position in shares of McKesson during the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 1.0%

McKesson stock traded up $9.77 during mid-day trading on Tuesday, hitting $965.53. 266,654 shares of the company were exchanged, compared to its average volume of 931,459. The company has a market capitalization of $112.57 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.97 and a beta of 0.30. The business has a fifty day moving average of $887.79 and a 200 day moving average of $833.96. McKesson Corporation has a 1-year low of $723.68 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping 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 business had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter last year, the company posted $8.26 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts expect that McKesson Corporation will post 44.73 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.94 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 1st. McKesson’s payout ratio is currently 10.06%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Bank of America increased their target price on shares of McKesson from $950.00 to $1,050.00 in a research note on Thursday, August 6th. Evercore restated an “outperform” rating and set a $950.00 price target (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. Argus upped their price target on McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Mizuho raised their price objective on McKesson from $885.00 to $905.00 in a research report on Thursday, August 6th. Finally, TD Cowen lifted 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. Fifteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $983.29.

Insider Activity at McKesson

In other news, Director Bradley Lerman sold 301 shares of McKesson 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO B Jr sold 111 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer directly owned 521 shares in the company, valued at $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.06% of the company’s stock.

McKesson Company 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.