Leonteq Securities AG Reduces Position in McKesson Corporation $MCK

Leonteq Securities AG decreased its holdings in shares of McKesson Corporation (NYSE:MCK) by 79.1% in the first quarter, HoldingsChannel reports. The fund owned 363 shares of the company’s stock after selling 1,378 shares during the quarter. Leonteq Securities AG’s holdings in McKesson were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in McKesson by 38.7% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 77,237 shares of the company’s stock worth $66,838,000 after purchasing an additional 21,544 shares during the period. Elevation Point Wealth Partners LLC grew its holdings in McKesson by 236.8% during the first quarter. Elevation Point Wealth Partners LLC now owns 3,550 shares of the company’s stock valued at $3,074,000 after purchasing an additional 2,496 shares during the period. Sound Income Strategies LLC increased its position in McKesson by 33.9% in the first quarter. Sound Income Strategies LLC now owns 162 shares of the company’s stock worth $141,000 after buying an additional 41 shares in the last quarter. Patten Group Inc. purchased a new stake in McKesson in the first quarter worth about $201,000. Finally, Keybank National Association OH raised its stake in shares of McKesson by 1.9% in the first quarter. Keybank National Association OH now owns 4,323 shares of the company’s stock worth $3,741,000 after buying an additional 81 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. JPMorgan Chase & Co. dropped their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Citigroup reduced their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

McKesson Trading Down 0.0%

Shares of MCK opened at $786.17 on Monday. The business’s 50 day moving average is $769.23 and its 200 day moving average is $839.09. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The company has a market capitalization of $92.05 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the prior year, the company posted $10.12 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts predict that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a dividend of $0.82 per share. The ex-dividend date was Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 8.53%.

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the sale, the executive vice president directly owned 3,090 shares in the company, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the completion of the sale, the chief executive officer owned 14,382 shares in the company, valued at approximately $11,147,919.66. The trade was a 37.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 20,285 shares of company stock valued at $15,546,137. Insiders own 0.06% of the company’s stock.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.