Sivik Global Healthcare LLC Has $8.55 Million Stock Position in McKesson Co. (NYSE:MCK)

Sivik Global Healthcare LLC lowered its position in shares of McKesson Co. (NYSE:MCK) by 25.0% during the fourth quarter, Holdings Channel reports. The fund owned 15,000 shares of the company’s stock after selling 5,000 shares during the quarter. McKesson makes up 4.5% of Sivik Global Healthcare LLC’s holdings, making the stock its 4th largest holding. Sivik Global Healthcare LLC’s holdings in McKesson were worth $8,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Synergy Asset Management LLC bought a new position in McKesson during the fourth quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the 3rd quarter valued at $29,000. Crews Bank & Trust bought a new stake in McKesson in the fourth quarter worth $33,000. Wolff Wiese Magana LLC increased its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson in the third quarter worth about $31,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of a number of research analyst reports. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Leerink Partners decreased their price target 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. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Evercore ISI lifted their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $646.14.

McKesson Price Performance

Shares of McKesson stock opened at $605.70 on Thursday. The firm has a market cap of $76.89 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The stock’s 50-day moving average is $592.16 and its 200-day moving average is $561.52.

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

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio is presently 14.71%.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.