311 Shares in McKesson Corporation $MCK Acquired by SYM FINANCIAL Corp

SYM FINANCIAL Corp purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 311 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors have also made changes to their positions in MCK. Nuveen LLC acquired a new position in McKesson in the 1st quarter worth $475,235,000. Wellington Management Group LLP lifted its holdings in McKesson by 4,559.6% in the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after buying an additional 418,524 shares in the last quarter. Boston Partners lifted its stake in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after acquiring an additional 365,484 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of McKesson by 92.3% in the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after acquiring an additional 312,473 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in McKesson in the first quarter valued at $140,742,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is currently owned by insiders.

McKesson Trading Down 0.7%

McKesson stock opened at $806.13 on Wednesday. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $812.69. The stock has a market cap of $100.27 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 1.46 and a beta of 0.52. The company’s 50-day moving average price is $734.38 and its two-hundred day moving average price is $716.40.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The firm had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.88 earnings per share. Research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MCK. Bank of America upped their price objective on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Cowen reissued a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. JPMorgan Chase & Co. increased their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Deutsche Bank Aktiengesellschaft increased their target price on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Mizuho increased their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $839.15.

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.