Bailard Inc. Boosts Stock Position in McKesson Co. (NYSE:MCK)

Bailard Inc. grew its stake in McKesson Co. (NYSE:MCK) by 71.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,599 shares of the company’s stock after purchasing an additional 1,081 shares during the period. Bailard Inc.’s holdings in McKesson were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Raymond James & Associates lifted its holdings in McKesson by 6.1% during the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock worth $70,919,000 after buying an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in McKesson by 6.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after acquiring an additional 5,425 shares during the period. Insight Wealth Strategies LLC acquired a new position in McKesson in the 4th quarter valued at about $1,813,000. Aspire Private Capital LLC increased its position in McKesson by 3.2% during the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock worth $851,000 after purchasing an additional 60 shares during the period. Finally, Argus Investors Counsel Inc. purchased a new stake in shares of McKesson during the 4th quarter worth approximately $891,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCK has been the topic of a number of recent research reports. Argus upped their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Mizuho increased their price target on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Barclays assumed coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target for the company. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Finally, SVB Leerink assumed coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Stock Performance

NYSE:MCK traded down $1.04 during trading hours on Friday, hitting $538.90. The stock had a trading volume of 92,638 shares, compared to its average volume of 679,455. McKesson Co. has a one year low of $352.34 and a one year high of $543.00. The company has a market cap of $70.82 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.42 and a beta of 0.45. The business’s 50 day moving average is $527.50 and its 200-day moving average is $488.84.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.90 earnings per share. On average, sell-side analysts anticipate that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio is currently 11.24%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% 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.