McKesson Corporation $MCK Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in shares of McKesson Corporation (NYSE:MCK) by 14.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,514 shares of the company’s stock after selling 44,562 shares during the quarter. Assenagon Asset Management S.A.’s holdings in McKesson were worth $204,348,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Solstein Capital LLC lifted its holdings in shares of McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the last quarter. State of Wyoming acquired a new stake in McKesson during the 2nd quarter worth about $29,000. GFG Capital LLC purchased a new stake in McKesson during the second quarter valued at about $30,000. Saudi Central Bank purchased a new stake in McKesson during the first quarter valued at about $34,000. Finally, Delos Wealth Advisors LLC acquired a new position in shares of McKesson in the second quarter worth about $35,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Barclays started coverage on shares of McKesson in a report on Monday, December 8th. They set an “overweight” rating and a $960.00 price target on the stock. Wells Fargo & Company lifted their price objective on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Mizuho boosted their target price on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. TD Cowen raised their target price on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Evercore ISI reiterated an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $892.86.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

McKesson Price Performance

MCK opened at $809.51 on Wednesday. The company has a market capitalization of $99.92 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38. McKesson Corporation has a fifty-two week low of $558.13 and a fifty-two week high of $895.58. The business has a 50-day moving average of $823.03 and a 200-day moving average of $749.98.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.07 earnings per share. On average, equities research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s payout ratio is presently 10.21%.

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.