20,000 Shares in McKesson Co. (NYSE:MCK) Acquired by Integral Health Asset Management LLC

Integral Health Asset Management LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,000 shares of the company’s stock, valued at approximately $11,681,000. McKesson makes up 1.1% of Integral Health Asset Management LLC’s portfolio, making the stock its 28th largest position.

Several other large investors have also made changes to their positions in the company. RFP Financial Group LLC boosted its position in McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after buying an additional 17 shares in the last quarter. Modera Wealth Management LLC boosted its position in McKesson by 2.2% in the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after buying an additional 17 shares in the last quarter. Larson Financial Group LLC boosted its position in McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after buying an additional 17 shares in the last quarter. First Western Trust Bank boosted its position in McKesson by 2.0% in the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after buying an additional 18 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in McKesson by 1.7% in the first quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of several analyst reports. Barclays raised their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Leerink Partners dropped their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Citigroup dropped their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Robert W. Baird dropped their price target on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $620.93.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the transaction, the chief executive officer now directly owns 82,339 shares in the company, valued at $51,546,684.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 11,259 shares of company stock worth $6,635,492. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $508.00 on Monday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The company has a market cap of $66.01 billion, a PE ratio of 22.70, a P/E/G ratio of 1.18 and a beta of 0.44. The stock has a 50-day moving average of $560.25 and a 200-day moving average of $557.24.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter last year, the firm posted $7.27 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts expect that McKesson Co. will post 32.11 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is 12.69%.

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.