Voleon Capital Management LP Acquires New Holdings in McKesson Co. (NYSE:MCK)

Voleon Capital Management LP bought a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, Holdings Channel reports. The institutional investor bought 7,200 shares of the company’s stock, valued at approximately $4,103,000.

A number of other hedge funds have also recently made changes to their positions in MCK. Millstone Evans Group LLC purchased a new stake in shares of McKesson during the 4th quarter valued at $28,000. Synergy Asset Management LLC purchased a new position in shares of McKesson in the fourth quarter worth $32,000. Crews Bank & Trust purchased a new stake in McKesson during the 4th quarter valued at $33,000. Atala Financial Inc purchased a new position in shares of McKesson in the fourth quarter valued at about $34,000. Finally, Graney & King LLC purchased a new stake in shares of McKesson during the fourth quarter worth about $38,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley upped their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Mizuho boosted their price target on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Bank of America lifted their price objective on McKesson from $665.00 to $755.00 and gave the company a “buy” rating in a research report on Friday, April 11th. UBS Group upped their price target on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $681.00.

McKesson Stock Up 1.1 %

Shares of NYSE MCK opened at $707.68 on Wednesday. The firm’s 50-day moving average price is $665.30 and its 200-day moving average price is $609.90. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.32. The company has a market cap of $88.69 billion, a PE ratio of 32.40, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is owned by company insiders.

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.