Measured Wealth Private Client Group LLC Invests $294,000 in McKesson Co. (NYSE:MCK)

Measured Wealth Private Client Group LLC purchased a new stake in McKesson Co. (NYSE:MCK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 548 shares of the company’s stock, valued at approximately $294,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Intrust Bank NA bought a new position in McKesson in the fourth quarter worth about $206,000. Raymond James & Associates boosted its stake in McKesson by 6.1% in the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after acquiring an additional 8,784 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in McKesson by 6.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares during the last quarter. Heritage Wealth Management LLC acquired a new stake in shares of McKesson in the 4th quarter worth $1,538,000. Finally, Insight Wealth Strategies LLC acquired a new stake in shares of McKesson in the 4th quarter worth $1,813,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Britt J. Vitalone sold 12,752 shares of McKesson stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $7,116,763.68. Following the completion of the sale, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the transaction, the chief executive officer now owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,814 shares of company stock worth $14,511,649. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of several analyst reports. Morgan Stanley increased their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Citigroup raised their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Robert W. Baird lifted their price objective on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Finally, TD Cowen increased their target price on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $590.47.

McKesson Price Performance

MCK opened at $584.83 on Wednesday. The company’s 50 day simple moving average is $567.05 and its two-hundred day simple moving average is $526.51. The firm has a market capitalization of $75.99 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45. McKesson Co. has a 1-year low of $395.30 and a 1-year high of $612.17.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same period last year, the firm posted $7.19 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s payout ratio is presently 11.08%.

McKesson 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.