Stablepoint Partners LLC Buys 86 Shares of McKesson Co. (NYSE:MCK)

Stablepoint Partners LLC lifted its position in McKesson Co. (NYSE:MCK) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,461 shares of the company’s stock after purchasing an additional 86 shares during the period. Stablepoint Partners LLC’s holdings in McKesson were worth $1,403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares in the last quarter. FMR LLC raised its holdings in shares of McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after acquiring an additional 438,423 shares in the last quarter. Geode Capital Management LLC lifted its stake in McKesson by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after acquiring an additional 26,299 shares during the period. The Manufacturers Life Insurance Company lifted its stake in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the period. Finally, Nordea Investment Management AB grew its holdings in McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after acquiring an additional 162,688 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

McKesson Stock Down 1.0 %

MCK stock opened at $591.47 on Monday. The stock has a market capitalization of $75.08 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The firm has a 50 day moving average of $592.65 and a 200 day moving average of $561.31.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the firm posted $6.23 earnings per share. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MCK. Wells Fargo & Company upped their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Evercore ISI boosted their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Leerink Partners reduced their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $646.14.

McKesson 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.