McKesson Co. (NYSE:MCK) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors reduced its holdings in McKesson Co. (NYSE:MCK) by 9.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,063 shares of the company’s stock after selling 3,516 shares during the quarter. Captrust Financial Advisors’ holdings in McKesson were worth $18,287,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of McKesson by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after buying an additional 46,659 shares during the period. Norges Bank acquired a new position in McKesson during the fourth quarter worth $1,024,140,000. Putnam Investments LLC raised its holdings in McKesson by 3.2% during the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after purchasing an additional 62,242 shares during the last quarter. WCM Investment Management LLC raised its holdings in McKesson by 2.3% during the first quarter. WCM Investment Management LLC now owns 1,118,029 shares of the company’s stock worth $600,214,000 after purchasing an additional 24,840 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after purchasing an additional 749,504 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America lifted their price objective on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Argus lifted their price objective on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. UBS Group lifted their price objective on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Morgan Stanley raised 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. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $599.33.

Insider Activity

In other McKesson news, Director Maria Martinez sold 483 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McKesson news, Director Maria Martinez sold 483 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total value of $2,180,192.76. Following the sale, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at approximately $50,012,564.64. The disclosure for this sale can be found here. Insiders sold a total of 29,567 shares of company stock valued at $16,691,841 over the last quarter. Company insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.5 %

Shares of NYSE:MCK opened at $609.72 on Wednesday. The company has a market cap of $79.23 billion, a P/E ratio of 27.24, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $616.15. The business has a fifty day simple moving average of $584.73 and a 200-day simple moving average of $544.59.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $7.19 EPS. Sell-side analysts expect that McKesson Co. will post 31.68 earnings per share for the current fiscal year.

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.