BI Asset Management Fondsmaeglerselskab A S Sells 7,921 Shares of McKesson Corporation $MCK

BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of McKesson Corporation (NYSE:MCK) by 42.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,556 shares of the company’s stock after selling 7,921 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in McKesson were worth $9,135,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in McKesson in the fourth quarter worth about $1,651,137,000. Swedbank AB increased its position in McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after purchasing an additional 263,189 shares during the period. SurgoCap Partners LP increased its position in McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after purchasing an additional 184,106 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of McKesson by 73.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after purchasing an additional 183,590 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of McKesson in the 3rd quarter valued at about $135,352,000. 85.07% of the stock is currently owned by institutional investors.

More McKesson News

Here are the key news stories impacting McKesson this week:

• Negative Sentiment: CEO Brian Tyler sold 8,463 shares at an average price of $775.13 under a pre-arranged 10b5-1 plan. Even though the sale was planned, insider selling can still weigh on investor sentiment. Article Title
• Neutral Sentiment: McKesson continues to get attention for its Medical-Surgical Solutions carve-out and new financing tied to that unit, which investors may be reassessing after a strong earnings report and upbeat FY2027 guidance. Article Title
• Neutral Sentiment: The company recently announced a fiscal 2024 fourth-quarter earnings release date, a routine event that does not appear to be a major market driver on its own. Article Title

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays dropped their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Finally, Raymond James Financial set a $970.00 price target on McKesson in a report on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $960.53.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the sale, the chief executive officer owned 14,382 shares in the company, valued at approximately $11,147,919.66. The trade was a 37.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,285 shares of company stock worth $15,546,137 over the last ninety days. Insiders own 0.06% of the company’s stock.

McKesson Trading Down 0.1%

NYSE MCK opened at $750.23 on Monday. The firm’s fifty day simple moving average is $787.94 and its two-hundred day simple moving average is $842.32. The firm has a market capitalization of $87.84 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.24 and a beta of 0.31. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.