Danske Bank A S Acquires Shares of 169,787 McKesson Corporation $MCK

Danske Bank A S bought a new position in shares of McKesson Corporation (NYSE:MCK) in the second quarter, Holdings Channel.com reports. The firm bought 169,787 shares of the company’s stock, valued at approximately $128,291,000.

Other large investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson during the 4th quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new position in McKesson in the 4th quarter valued at approximately $26,000. State of Wyoming bought a new stake in McKesson during the 2nd quarter valued at $29,000. Kingdom Financial Group LLC. bought a new stake in McKesson during the 4th quarter valued at $33,000. Finally, Birchwood Financial Partners Inc. purchased a new stake in shares of McKesson during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MCK shares. Citigroup raised their price target on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Barclays cut their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. TD Cowen lifted their target price on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, UBS Group upped their price target on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $977.00.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,049 shares of company stock valued at $22,530,626 over the last quarter. Insiders own 0.06% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $869.73 on Wednesday. McKesson Corporation has a 1 year low of $667.50 and a 1 year high of $999.00. The firm has a market cap of $101.40 billion, a PE ratio of 23.27, a PEG ratio of 1.71 and a beta of 0.30. The company has a 50 day simple moving average of $817.06 and a two-hundred day simple moving average of $843.43.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is currently 8.78%.

McKesson Profile

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.