McKesson Co. (NYSE:MCK) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its position in shares of McKesson Co. (NYSE:MCK) by 33.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,746 shares of the company’s stock after selling 13,171 shares during the quarter. Lazard Asset Management LLC’s holdings in McKesson were worth $13,821,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in MCK. Sachetta LLC purchased a new position in McKesson in the fourth quarter valued at about $27,000. Register Financial Advisors LLC acquired a new position in McKesson during the first quarter worth $29,000. Richardson Financial Services Inc. purchased a new stake in McKesson during the fourth quarter worth $31,000. Newbridge Financial Services Group Inc. grew its holdings in McKesson by 333.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC raised its stake in shares of McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after buying an additional 24 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 0.7 %

Shares of MCK stock traded up $4.43 during mid-day trading on Friday, reaching $600.16. The company’s stock had a trading volume of 634,064 shares, compared to its average volume of 629,093. The firm has a market capitalization of $77.98 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 1.40 and a beta of 0.45. The company’s 50 day simple moving average is $582.73 and its 200-day simple moving average is $542.47. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $612.17.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same period last year, the business earned $7.19 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, research analysts anticipate that McKesson Co. will post 31.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MCK. Morgan Stanley upped their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. UBS Group upped their target price on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Robert W. Baird raised their price target on McKesson from $679.00 to $694.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Evercore ISI upped their price objective on McKesson from $600.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. Finally, StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $599.33.

Insider Transactions at McKesson

In related news, Director Maria Martinez sold 483 shares of McKesson stock in a transaction on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other McKesson news, Director Maria Martinez sold 483 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares in the company, valued at $50,012,564.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,567 shares of company stock valued at $16,691,841. Corporate insiders own 0.11% 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.