Bellevue Group AG Sells 10,400 Shares of McKesson Co. (NYSE:MCK)

Bellevue Group AG lessened its position in McKesson Co. (NYSE:MCK) by 22.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,742 shares of the company’s stock after selling 10,400 shares during the quarter. Bellevue Group AG’s holdings in McKesson were worth $17,672,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in shares of McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after buying an additional 138,685 shares during the period. FMR LLC lifted its stake in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the last quarter. Legal & General Group Plc boosted its holdings in McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after acquiring an additional 36,583 shares during the period. The Manufacturers Life Insurance Company grew its position in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after acquiring an additional 425,875 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in McKesson by 7.9% in the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after purchasing an additional 62,875 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research analyst reports. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup upped their target price on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI lifted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Two 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. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

MCK stock opened at $628.50 on Friday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm has a market cap of $79.78 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 1.36 and a beta of 0.44. The firm has a 50-day simple moving average of $542.22 and a two-hundred day simple moving average of $559.96.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the company posted $6.23 earnings per share. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, equities analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.45%. McKesson’s dividend payout ratio (DPR) is 14.71%.

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.