McKesson Corporation $MCK is Sivik Global Healthcare LLC’s 4th Largest Position

Sivik Global Healthcare LLC increased its stake in McKesson Corporation (NYSE:MCK) by 18.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 13,000 shares of the company’s stock after buying an additional 2,000 shares during the quarter. McKesson makes up about 2.6% of Sivik Global Healthcare LLC’s portfolio, making the stock its 4th largest position. Sivik Global Healthcare LLC’s holdings in McKesson were worth $9,526,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MCK. Nuveen LLC purchased a new position in shares of McKesson in the first quarter valued at $475,235,000. Wellington Management Group LLP grew its position in McKesson by 4,559.6% during the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after buying an additional 418,524 shares in the last quarter. Boston Partners grew its position in McKesson by 33.3% during the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after buying an additional 365,484 shares in the last quarter. Voya Investment Management LLC grew its position in McKesson by 92.3% during the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after buying an additional 312,473 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in McKesson during the first quarter worth about $140,742,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Up 0.8%

Shares of MCK stock opened at $763.89 on Friday. The business has a 50-day moving average price of $707.48 and a two-hundred day moving average price of $706.39. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $776.14. The firm has a market cap of $95.01 billion, a P/E ratio of 30.46, a price-to-earnings-growth ratio of 1.38 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. During the same period last year, the firm earned $7.88 EPS. The company’s revenue for the quarter was up 23.4% on a year-over-year basis. As a group, research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.82 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 13.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MCK shares. Evercore ISI boosted their target price on McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Wells Fargo & Company boosted their target price on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Cowen restated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. JPMorgan Chase & Co. boosted their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $829.08.

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.