Vise Technologies Inc. Makes New $5.69 Million Investment in McKesson Corporation $MCK

Vise Technologies Inc. purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,527 shares of the company’s stock, valued at approximately $5,687,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of McKesson in the second quarter valued at about $8,156,743,000. Norges Bank purchased a new position in McKesson during the fourth quarter worth about $1,651,137,000. Bank of New York Mellon Corp purchased a new position in McKesson during the second quarter worth about $599,060,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in McKesson in the 2nd quarter valued at about $495,737,000. Finally, Deutsche Bank AG acquired a new position in McKesson in the 2nd quarter valued at about $337,316,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $841.21 on Friday. The firm’s 50 day moving average price is $819.40 and its 200-day moving average price is $843.73. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00. The firm has a market cap of $98.08 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.68 and a beta of 0.30.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last 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 predict that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is presently 10.06%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. TD Cowen increased their price objective on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Robert W. Baird set a $1,015.00 target price on McKesson in a research note on Thursday, August 6th. Finally, Morgan Stanley restated an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is owned by corporate insiders.

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.