Asset Dedication LLC Trims Stock Holdings in McKesson Co. (NYSE:MCK)

Asset Dedication LLC lessened its stake in McKesson Co. (NYSE:MCK) by 26.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 689 shares of the company’s stock after selling 251 shares during the period. Asset Dedication LLC’s holdings in McKesson were worth $393,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC raised its holdings in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson in the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new position in McKesson during the third quarter worth $40,000. Finally, Bruce G. Allen Investments LLC raised its position in McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after acquiring an additional 28 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MCK. Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Stock Performance

Shares of NYSE MCK opened at $603.79 on Thursday. The firm has a market cap of $76.64 billion, a P/E ratio of 31.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm’s 50 day moving average price is $592.16 and its 200 day moving average price is $561.52.

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

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.