Andra AP fonden Cuts Stock Position in McKesson Corporation $MCK

Andra AP fonden lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 34.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 14,341 shares of the company’s stock after selling 7,499 shares during the quarter. Andra AP fonden’s holdings in McKesson were worth $12,410,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Glenview Trust Co grew its stake in McKesson by 15.4% during the 1st quarter. Glenview Trust Co now owns 3,274 shares of the company’s stock worth $2,833,000 after buying an additional 437 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in McKesson in the first quarter valued at about $64,000. Meeder Asset Management Inc. boosted its holdings in McKesson by 20,237.5% in the first quarter. Meeder Asset Management Inc. now owns 8,135 shares of the company’s stock worth $7,040,000 after acquiring an additional 8,095 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of McKesson by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 356,397 shares of the company’s stock worth $308,388,000 after acquiring an additional 4,311 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of McKesson by 3.0% during the first quarter. Parallel Advisors LLC now owns 2,878 shares of the company’s stock worth $2,491,000 after acquiring an additional 83 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MCK shares. Wells Fargo & Company lowered their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Bank of America dropped their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $959.00.

McKesson Stock Performance

MCK stock opened at $828.08 on Wednesday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm’s fifty day moving average is $775.33 and its 200 day moving average is $838.48. The firm has a market cap of $96.95 billion, a PE ratio of 21.53, a P/E/G ratio of 1.37 and a beta of 0.31.

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 company had revenue of $96.30 billion for 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%.McKesson’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was 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. Over the last ninety days, insiders have sold 28,748 shares of company stock valued at $22,262,035. Insiders own 0.06% of the company’s stock.

McKesson 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.