Certuity LLC Raises Position in McKesson Co. (NYSE:MCK)

Certuity LLC boosted its position in McKesson Co. (NYSE:MCK) by 46.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 693 shares of the company’s stock after purchasing an additional 220 shares during the period. Certuity LLC’s holdings in McKesson were worth $395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Synergy Asset Management LLC bought a new stake in shares of McKesson in the fourth quarter valued at $32,000. MidAtlantic Capital Management Inc. bought a new stake in McKesson in the 3rd quarter valued at about $29,000. Crews Bank & Trust purchased a new stake in McKesson during the fourth quarter valued at about $33,000. Wolff Wiese Magana LLC boosted 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 purchasing an additional 52 shares during the period. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the third quarter worth about $31,000. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

Shares of NYSE:MCK opened at $595.24 on Thursday. The company’s fifty day moving average price is $587.89 and its 200-day moving average price is $562.68. The firm has a market capitalization of $75.56 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 1.30 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities research analysts expect that McKesson Co. will post 32.69 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several analyst reports. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $645.79.

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.