Bokf Na Sells 33 Shares of McKesson Co. (NYSE:MCK)

Bokf Na trimmed its stake in shares of McKesson Co. (NYSE:MCK) by 2.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 1,236 shares of the company’s stock after selling 33 shares during the quarter. Bokf Na’s holdings in McKesson were worth $663,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sachetta LLC acquired a new position in shares of McKesson during the 4th quarter worth $27,000. Register Financial Advisors LLC acquired a new position in shares of McKesson during the 1st quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in McKesson in the 4th quarter worth about $31,000. Newbridge Financial Services Group Inc. increased its holdings in McKesson by 333.3% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC increased its holdings in McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MCK shares. TD Cowen upped their target price on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Wells Fargo & Company increased their price target on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Robert W. Baird increased their price target on McKesson from $679.00 to $694.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Morgan Stanley upped their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $599.33.

McKesson Stock Performance

NYSE:MCK traded up $0.95 during trading hours on Monday, reaching $601.11. The stock had a trading volume of 72,505 shares, compared to its average volume of 696,355. The stock has a 50 day simple moving average of $582.73 and a 200 day simple moving average of $542.89. McKesson Co. has a 12-month low of $395.30 and a 12-month high of $612.17. The stock has a market cap of $78.11 billion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 1.40 and a beta of 0.45.

McKesson (NYSE:MCK) last released its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) 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 firm had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same period in the prior year, the business earned $7.19 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities analysts expect that McKesson Co. will post 31.68 earnings per share for the current fiscal year.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the completion of the sale, the chief executive officer now owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the completion of the sale, the chief executive officer now owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 600 shares of McKesson stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares in the company, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. Insiders sold 29,567 shares of company stock valued at $16,691,841 over the last three months. Company insiders own 0.11% of the company’s stock.

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.