Meiji Yasuda Life Insurance Co Sells 1,725 Shares of McKesson Corporation $MCK

Meiji Yasuda Life Insurance Co lowered its stake in McKesson Corporation (NYSE:MCK) by 85.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 284 shares of the company’s stock after selling 1,725 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in McKesson were worth $215,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MCK. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson during the 4th quarter valued at $25,000. Swiss RE Ltd. acquired a new position in McKesson in the 4th quarter worth about $26,000. Delos Wealth Advisors LLC bought a new position in McKesson in the second quarter valued at about $27,000. State of Wyoming bought a new position in McKesson in the second quarter valued at about $29,000. Finally, Kingdom Financial Group LLC. bought a new position in McKesson in the fourth quarter valued at about $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson News Roundup

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Expansion into precision medicine: McKesson agreed to acquire privately held Precision Medicine Group for approximately $2.25 billion. Precision Medicine provides clinical research, laboratory testing and commercialization services for biotechnology and pharmaceutical companies, giving McKesson greater exposure to oncology, personalized medicine and specialty care. McKesson Doubles Down on Healthcare Growth With Precision Medicine Acquisition
• Positive Sentiment: Higher-growth service mix: The acquisition is expected to strengthen McKesson’s clinical research and commercialization capabilities and deepen relationships with biopharmaceutical companies and oncology practices. Investors may view the transaction as a way to reduce reliance on lower-margin pharmaceutical distribution and participate in growth tied to new drug development. What Does McKesson Gain From Its Push Into Oncology And Clinical Research?
• Neutral Sentiment: Portfolio repositioning amid workforce changes: Coverage noted layoffs at Rx Savings while McKesson plans the Precision Medicine acquisition. The combination highlights an ongoing reallocation of resources, although the near-term effect on earnings and integration costs remains uncertain. Amid Layoffs, McKesson Plans Acquisition
• Negative Sentiment: Cybersecurity incident disclosed: McKesson reported discovering a cybersecurity incident on August 25 after the ShinyHunters group claimed it had stolen patient data. The company’s investigation and any resulting regulatory, remediation, privacy or reputational costs could weigh on sentiment, although the ultimate scope and financial impact were not yet clear. McKesson Discloses Breach After ShinyHunters Claims Patient Data Theft

Analyst Ratings Changes

Several research firms have recently issued reports on MCK. Robert W. Baird set a $1,015.00 price objective on McKesson in a research note on Thursday, August 6th. Weiss Ratings lowered 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 set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Citigroup upped their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, 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 note on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $973.44.

McKesson Trading Up 0.2%

Shares of MCK stock opened at $895.59 on Monday. The stock has a market cap of $104.42 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 1.76 and a beta of 0.30. The stock has a 50-day moving average of $833.31 and a 200-day moving average of $843.29. McKesson Corporation has a 1-year low of $679.65 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The business 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%. McKesson’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

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

Insiders Place Their Bets

In related news, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 22,988 shares of company stock valued at $17,920,808. 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.