McKesson Co. (NYSE:MCK) Holdings Cut by Vinva Investment Management Ltd

Vinva Investment Management Ltd lowered its holdings in McKesson Co. (NYSE:MCK) by 31.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,512 shares of the company’s stock after selling 1,627 shares during the period. Vinva Investment Management Ltd’s holdings in McKesson were worth $1,715,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. RFP Financial Group LLC raised its holdings in shares of McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after buying an additional 17 shares during the last quarter. Modera Wealth Management LLC raised its holdings in shares of McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after buying an additional 17 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after buying an additional 17 shares during the last quarter. Lester Murray Antman dba SimplyRich raised its holdings in shares of McKesson by 0.4% during the second quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock valued at $2,935,000 after buying an additional 19 shares during the last quarter. Finally, Black Diamond Financial LLC raised its holdings in shares of McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after buying an additional 19 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.4 %

Shares of NYSE:MCK opened at $628.60 on Friday. The firm has a fifty day moving average of $542.22 and a two-hundred day moving average of $559.90. The firm has a market capitalization of $79.79 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the business posted $6.23 EPS. Equities research analysts expect that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is presently 14.71%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Leerink Partners lowered their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Evercore ISI raised their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Two 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $631.57.

McKesson 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.