McKesson Co. (NYSE:MCK) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC cut its position in McKesson Co. (NYSE:MCK) by 24.8% during the fourth quarter, HoldingsChannel reports. The firm owned 2,756 shares of the company’s stock after selling 909 shares during the quarter. SteelPeak Wealth LLC’s holdings in McKesson were worth $1,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its holdings in McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after buying an additional 138,685 shares during the last quarter. FMR LLC raised its position in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares in the last quarter. Geode Capital Management LLC boosted its holdings in McKesson by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock valued at $1,306,873,000 after purchasing an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings 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 purchasing an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Up 0.1 %

Shares of McKesson stock opened at $603.79 on Thursday. The firm has a market cap of $76.64 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company’s 50-day simple moving average is $592.16 and its 200-day simple moving average is $561.52.

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

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Evercore ISI boosted their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Finally, Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. 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’s stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $646.14.

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.