PFM Health Sciences LP Purchases 47,244 Shares of McKesson Co. (NYSE:MCK)

PFM Health Sciences LP grew its position in McKesson Co. (NYSE:MCK) by 15.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 356,231 shares of the company’s stock after buying an additional 47,244 shares during the period. McKesson accounts for about 2.1% of PFM Health Sciences LP’s portfolio, making the stock its 13th largest position. PFM Health Sciences LP owned approximately 0.22% of McKesson worth $69,479,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of McKesson by 2.9% in the 1st quarter. BlackRock Inc. now owns 14,379,352 shares of the company’s stock valued at $2,804,550,000 after buying an additional 409,378 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of McKesson by 6.0% in the 1st quarter. JPMorgan Chase & Co. now owns 7,636,090 shares of the company’s stock valued at $1,489,343,000 after buying an additional 434,162 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of McKesson by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 2,878,047 shares of the company’s stock valued at $559,947,000 after buying an additional 64,254 shares in the last quarter. Boston Partners boosted its holdings in shares of McKesson by 0.6% in the 1st quarter. Boston Partners now owns 2,855,220 shares of the company’s stock valued at $556,911,000 after buying an additional 16,522 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of McKesson by 10.5% in the 1st quarter. Bank of New York Mellon Corp now owns 2,442,712 shares of the company’s stock valued at $476,425,000 after buying an additional 232,431 shares in the last quarter. Institutional investors and hedge funds own 85.28% of the company’s stock.

A number of research firms recently commented on MCK. Mizuho lifted their target price on shares of McKesson from $190.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 12th. Argus upgraded shares of McKesson from a “hold” rating to a “buy” rating and set a $230.00 target price for the company in a research note on Tuesday, March 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of McKesson from $231.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, May 7th. Credit Suisse Group lifted their target price on shares of McKesson from $192.00 to $222.00 and gave the stock a “neutral” rating in a research note on Monday, May 10th. Finally, The Goldman Sachs Group lifted their target price on shares of McKesson from $231.00 to $257.00 and gave the stock a “buy” rating in a research note on Friday, May 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. McKesson has an average rating of “Buy” and a consensus target price of $218.33.

NYSE MCK traded up $0.41 on Thursday, hitting $197.95. 13,966 shares of the company’s stock traded hands, compared to its average volume of 1,326,648. The company has a quick ratio of 0.59, a current ratio of 1.03 and a debt-to-equity ratio of 82.70. The firm has a market cap of $31.31 billion, a price-to-earnings ratio of -6.90, a PEG ratio of 1.47 and a beta of 0.88. The stock’s 50-day moving average price is $192.74. McKesson Co. has a 1-year low of $141.32 and a 1-year high of $204.66.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 6th. The company reported $5.05 earnings per share for the quarter, beating the consensus estimate of $5.02 by $0.03. The firm had revenue of $59.10 billion during the quarter, compared to analyst estimates of $61.08 billion. McKesson had a negative net margin of 1.91% and a positive return on equity of 95.80%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned $4.27 EPS. As a group, equities research analysts forecast that McKesson Co. will post 19.21 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 1st. Stockholders of record on Tuesday, June 1st were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Monday, May 31st. McKesson’s dividend payout ratio (DPR) is 9.76%.

In related news, CEO Brian S. Tyler sold 6,798 shares of the business’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $200.00, for a total value of $1,359,600.00. Following the completion of the sale, the chief executive officer now owns 12,192 shares of the company’s stock, valued at approximately $2,438,400. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas L. Rodgers sold 145 shares of the business’s stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of $189.56, for a total transaction of $27,486.20. Following the completion of the sale, the executive vice president now directly owns 12,910 shares of the company’s stock, valued at approximately $2,447,219.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,999 shares of company stock valued at $2,784,193. Insiders own 0.28% of the company’s stock.

About McKesson

McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

See Also: How to start trading in the forex market?

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK).

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.