AlphaCentric Advisors LLC Sells 21 Shares of McKesson Co. (NYSE:MCK)

AlphaCentric Advisors LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294 shares of the company’s stock after selling 21 shares during the period. AlphaCentric Advisors LLC’s holdings in McKesson were worth $145,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. LRI Investments LLC purchased a new position in McKesson in the first quarter worth about $28,000. Wolff Wiese Magana LLC raised its holdings in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in McKesson in the third quarter worth about $40,000. Carmichael Hill & Associates Inc. purchased a new position in McKesson in the second quarter worth about $52,000. Finally, Centennial Bank AR purchased a new position in McKesson in the second quarter worth about $53,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on MCK shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Barclays boosted their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Citigroup decreased their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Finally, Leerink Partners decreased their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Price Performance

MCK opened at $525.94 on Tuesday. The firm has a market cap of $68.20 billion, a P/E ratio of 23.52, a PEG ratio of 1.23 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The company has a 50 day simple moving average of $511.62 and a two-hundred day simple moving average of $550.62.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period in the prior year, the business posted $7.27 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Equities analysts anticipate that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. McKesson’s dividend payout ratio is 12.70%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.