McKesson Co. (NYSE:MCK) Shares Acquired by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 11.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,420 shares of the company’s stock after purchasing an additional 831 shares during the quarter. Insight Wealth Strategies LLC’s holdings in McKesson were worth $4,799,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson during the third quarter worth about $29,000. Wolff Wiese Magana LLC grew its holdings in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new stake in shares of McKesson in the 3rd quarter valued at $40,000. Finally, Centennial Bank AR purchased a new stake in shares of McKesson during the 2nd quarter worth $53,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MCK shares. Bank of America dropped their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday. Citigroup raised their target price on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Evercore ISI upped their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $648.71.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Up 0.9 %

Shares of NYSE MCK traded up $5.46 during midday trading on Monday, reaching $582.90. 540,802 shares of the company were exchanged, compared to its average volume of 535,625. The stock has a market cap of $73.99 billion, a P/E ratio of 30.19, a PEG ratio of 1.25 and a beta of 0.49. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The stock has a fifty day simple moving average of $584.70 and a 200 day simple moving average of $561.54.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the business posted $6.23 EPS. The company’s revenue was up 21.3% on a year-over-year basis. As a group, analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. McKesson’s payout ratio is currently 14.71%.

About McKesson

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.