First Trust Direct Indexing L.P. Has $2.13 Million Stake in McKesson Co. (NYSE:MCK)

First Trust Direct Indexing L.P. decreased its position in McKesson Co. (NYSE:MCK) by 28.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,297 shares of the company’s stock after selling 1,707 shares during the period. First Trust Direct Indexing L.P.’s holdings in McKesson were worth $2,125,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Trajan Wealth LLC lifted its holdings in McKesson by 19.5% in the third quarter. Trajan Wealth LLC now owns 12,248 shares of the company’s stock valued at $6,056,000 after buying an additional 1,999 shares during the period. Mutual Advisors LLC lifted its holdings in McKesson by 12.6% in the third quarter. Mutual Advisors LLC now owns 3,032 shares of the company’s stock valued at $1,531,000 after buying an additional 340 shares during the period. WD Rutherford LLC lifted its holdings in McKesson by 43.2% in the third quarter. WD Rutherford LLC now owns 5,384 shares of the company’s stock valued at $2,662,000 after buying an additional 1,624 shares during the period. Deltec Asset Management LLC acquired a new position in McKesson in the third quarter valued at $742,000. Finally, Fidelis Capital Partners LLC lifted its holdings in McKesson by 86.2% in the third quarter. Fidelis Capital Partners LLC now owns 3,179 shares of the company’s stock valued at $1,595,000 after buying an additional 1,472 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $499.39 on Thursday. The firm has a market cap of $64.89 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The firm has a 50-day moving average price of $513.72 and a two-hundred day moving average price of $550.56.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $7.27 EPS. As a group, sell-side analysts forecast that McKesson Co. will post 31.91 earnings per share for the current year.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MCK. StockNews.com lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Leerink Partners dropped their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $610.86.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.