New England Research & Management Inc. Purchases Shares of 1,550 McKesson Co. (NYSE:MCK)

New England Research & Management Inc. bought a new position in McKesson Co. (NYSE:MCK) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,550 shares of the company’s stock, valued at approximately $832,000.

A number of other hedge funds have also recently modified their holdings of the stock. Sachetta LLC acquired a new position in McKesson in the 4th quarter worth about $27,000. Register Financial Advisors LLC acquired a new position in shares of McKesson during the first quarter valued at approximately $29,000. BKM Wealth Management LLC acquired a new position in shares of McKesson during the fourth quarter valued at approximately $31,000. Richardson Financial Services Inc. acquired a new position in shares of McKesson during the fourth quarter valued at approximately $31,000. Finally, Carolinas Wealth Consulting LLC raised its holdings in shares of McKesson by 42.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Wells Fargo & Company raised their price target on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Barclays raised their price target on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley raised their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $590.47.

McKesson Stock Down 1.5 %

NYSE MCK opened at $584.09 on Friday. McKesson Co. has a 52-week low of $395.30 and a 52-week high of $612.17. The business’s 50-day moving average price is $565.88 and its 200 day moving average price is $524.60. The firm has a market cap of $75.90 billion, a P/E ratio of 26.10, a P/E/G ratio of 1.39 and a beta of 0.47.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same period in the prior year, the firm posted $7.19 EPS. McKesson’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts anticipate that McKesson Co. will post 31.54 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. McKesson’s dividend payout ratio is currently 11.08%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at approximately $51,607,866.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Britt J. Vitalone sold 12,752 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the completion of the sale, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at approximately $7,828,886.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the sale, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The disclosure for this sale can be found here. Insiders sold 25,814 shares of company stock worth $14,511,649 in the last ninety days. Insiders own 0.21% of the company’s stock.

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.