Lester Murray Antman dba SimplyRich purchased a new stake in McKesson Co. (NYSE:MCK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,982 shares of the company’s stock, valued at approximately $670,000.

Other large investors also recently added to or reduced their stakes in the company. Gradient Investments LLC boosted its position in shares of McKesson by 1,944.4% in the 2nd quarter. Gradient Investments LLC now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares during the period. Mark Sheptoff Financial Planning LLC acquired a new position in shares of McKesson in the 1st quarter valued at $27,000. Berman Capital Advisors LLC boosted its position in shares of McKesson by 175.2% in the 2nd quarter. Berman Capital Advisors LLC now owns 289 shares of the company’s stock valued at $37,000 after purchasing an additional 184 shares during the period. Smart Portfolios LLC acquired a new position in shares of McKesson in the 1st quarter valued at $35,000. Finally, Investors Research Corp acquired a new position in shares of McKesson in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 89.65% of the company’s stock.

A number of research firms recently weighed in on MCK. Wolfe Research lowered McKesson from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 5th. Bank of America set a $160.00 price objective on McKesson and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Credit Suisse Group began coverage on McKesson in a research report on Monday, July 22nd. They set a “neutral” rating and a $143.00 price objective for the company. JPMorgan Chase & Co. began coverage on McKesson in a research report on Monday, July 22nd. They set an “overweight” rating and a $164.00 price objective for the company. Finally, ValuEngine lowered McKesson from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $148.70.

NYSE MCK traded up $1.02 during trading on Tuesday, reaching $146.98. 43,148 shares of the company’s stock were exchanged, compared to its average volume of 1,607,356. McKesson Co. has a fifty-two week low of $106.11 and a fifty-two week high of $149.99. The firm has a market capitalization of $26.86 billion, a PE ratio of 10.83, a P/E/G ratio of 1.47 and a beta of 1.13. The company has a current ratio of 1.01, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14. The company’s fifty day simple moving average is $141.43 and its 200-day simple moving average is $128.80.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $3.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.04 by $0.27. The business had revenue of $55.73 billion during the quarter, compared to analyst estimates of $54.03 billion. McKesson had a return on equity of 30.73% and a net margin of 0.27%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.90 EPS. Equities analysts forecast that McKesson Co. will post 14.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.12%. This is a positive change from McKesson’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, August 30th. McKesson’s payout ratio is currently 11.50%.

In other news, CEO Brian Scott Tyler sold 1,488 shares of McKesson stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $125.49, for a total transaction of $186,729.12. Following the completion of the sale, the chief executive officer now directly owns 12,192 shares in the company, valued at approximately $1,529,974.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Britt J. Vitalone sold 1,088 shares of McKesson stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $129.48, for a total value of $140,874.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,704 shares of company stock valued at $625,131. 0.88% of the stock is owned by corporate insiders.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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