Everhart Financial Group Inc. Purchases 121 Shares of McKesson Co. (NYSE:MCK)

Everhart Financial Group Inc. grew its holdings in McKesson Co. (NYSE:MCK) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,315 shares of the company’s stock after purchasing an additional 121 shares during the quarter. Everhart Financial Group Inc.’s holdings in McKesson were worth $768,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MCK. Sachetta LLC bought a new stake in McKesson in the fourth quarter valued at about $27,000. LRI Investments LLC acquired a new stake in shares of McKesson in the 1st quarter valued at approximately $28,000. Register Financial Advisors LLC bought a new position in McKesson during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in McKesson in the fourth quarter valued at approximately $31,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in McKesson by 333.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MCK shares. Deutsche Bank Aktiengesellschaft reduced their target price on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Argus raised their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Bank of America increased their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Robert W. Baird cut their price objective on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, TD Cowen increased 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. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $620.29.

McKesson Stock Performance

NYSE:MCK traded down $8.75 during mid-day trading on Friday, hitting $552.15. The stock had a trading volume of 537,800 shares, compared to its average volume of 743,372. The company’s 50 day simple moving average is $584.83 and its 200 day simple moving average is $554.18. The stock has a market cap of $71.74 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.46 and a beta of 0.45. McKesson Co. has a twelve month low of $404.72 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the previous year, the company posted $7.27 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts forecast that McKesson Co. will post 31.68 earnings per share for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a $0.71 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio is currently 12.69%.

Insiders Place Their Bets

In other news, Director Maria Martinez sold 483 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Thomas L. Rodgers sold 789 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the transaction, the executive vice president now directly owns 7,909 shares of the company’s stock, valued at $4,408,476.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maria Martinez sold 483 shares of McKesson stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The disclosure for this sale can be found here. Insiders sold 19,257 shares of company stock worth $11,192,946 over the last three months. 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.