Baron Wealth Management LLC Has $284,000 Position in McKesson Co. (NYSE:MCK)

Baron Wealth Management LLC decreased its stake in McKesson Co. (NYSE:MCK) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 499 shares of the company’s stock after selling 20 shares during the period. Baron Wealth Management LLC’s holdings in McKesson were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. increased its holdings in McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after buying an additional 1,393 shares during the last quarter. Commerce Bank increased its stake in shares of McKesson by 2.0% during the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after purchasing an additional 3,020 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in McKesson in the 2nd quarter valued at about $12,331,000. West Oak Capital LLC grew its holdings in McKesson by 867.7% during the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 2,690 shares during the period. Finally, Nordea Investment Management AB increased its position in McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on MCK. Evercore ISI boosted their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Wells Fargo & Company upped their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Finally, Morgan Stanley raised their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two investment 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $646.14.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.1 %

Shares of McKesson stock opened at $603.79 on Thursday. The company has a 50 day moving average of $592.16 and a 200-day moving average of $561.52. The company has a market cap of $76.64 billion, a PE 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.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the company posted $6.23 EPS. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. Research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

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.