Everhart Financial Group Inc. Acquires 104 Shares of McKesson Co. (NYSE:MCK)

Everhart Financial Group Inc. lifted its stake in shares of McKesson Co. (NYSE:MCK) by 7.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,501 shares of the company’s stock after acquiring an additional 104 shares during the quarter. Everhart Financial Group Inc.’s holdings in McKesson were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the company. Ingalls & Snyder LLC grew its holdings in McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after purchasing an additional 1,047 shares during the period. Portfolio Design Labs LLC bought a new position in shares of McKesson during the 4th quarter worth approximately $274,000. Segall Bryant & Hamill LLC grew its stake in McKesson by 25.5% in the 4th quarter. Segall Bryant & Hamill LLC now owns 81,223 shares of the company’s stock valued at $46,290,000 after purchasing an additional 16,502 shares during the period. Fred Alger Management LLC grew its stake in McKesson by 95.5% in the 4th quarter. Fred Alger Management LLC now owns 3,091 shares of the company’s stock valued at $1,762,000 after purchasing an additional 1,510 shares during the period. Finally, Siemens Fonds Invest GmbH increased its position in shares of McKesson by 623.3% during the 4th quarter. Siemens Fonds Invest GmbH now owns 31,470 shares of the company’s stock valued at $17,935,000 after purchasing an additional 27,119 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer now owns 1,972 shares in the company, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the transaction, the chief executive officer now owns 51,243 shares in the company, valued at $36,173,970.99. The trade was a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,117 shares of company stock worth $23,526,451. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several research reports. UBS Group increased their price target on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Mizuho increased their target price 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. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Morgan Stanley lifted their price target on shares of McKesson from $745.00 to $770.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an “equal weight” rating in a research report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $694.38.

McKesson Trading Up 1.8%

Shares of McKesson stock opened at $730.39 on Friday. The company’s 50-day moving average price is $701.80 and its 200-day moving average price is $643.67. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.18. The company has a market cap of $91.38 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same quarter in the prior year, the firm posted $6.18 EPS. McKesson’s revenue was up 18.9% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio is currently 10.99%.

McKesson Company 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.