Valmark Advisers Inc. Buys 220 Shares of McKesson Co. (NYSE:MCK)

Valmark Advisers Inc. boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 31.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 920 shares of the company’s stock after purchasing an additional 220 shares during the period. Valmark Advisers Inc.’s holdings in McKesson were worth $455,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Distillate Capital Partners LLC grew its stake in McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp raised its stake in McKesson by 50.8% in the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC raised its position in shares of McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after buying an additional 133 shares in the last quarter. Councilmark Asset Management LLC bought a new position in McKesson during the 1st quarter worth $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new position in McKesson in the 2nd quarter valued at $238,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.0 %

Shares of MCK opened at $499.39 on Thursday. The stock has a market cap of $64.89 billion, a PE ratio of 22.31, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The business has a 50-day simple moving average of $513.72 and a two-hundred day simple moving average of $550.56.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the prior year, the firm posted $7.27 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts expect that McKesson Co. will post 31.91 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Evercore ISI decreased their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Mizuho lifted their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Leerink Partners cut their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.

McKesson Company Profile

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.