Fire Capital Management LLC Lowers Stock Position in McKesson Corporation $MCK

Fire Capital Management LLC lessened its holdings in McKesson Corporation (NYSE:MCK) by 4.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 814 shares of the company’s stock after selling 36 shares during the quarter. Fire Capital Management LLC’s holdings in McKesson were worth $596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MCK. Brighton Jones LLC lifted its position in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new stake in McKesson during the first quarter valued at approximately $228,000. Red Door Wealth Management LLC purchased a new stake in McKesson during the first quarter valued at approximately $237,000. Koshinski Asset Management Inc. lifted its position in McKesson by 2.3% during the first quarter. Koshinski Asset Management Inc. now owns 2,459 shares of the company’s stock valued at $1,655,000 after acquiring an additional 55 shares during the last quarter. Finally, DSG Capital Advisors LLC lifted its position in McKesson by 3.9% during the first quarter. DSG Capital Advisors LLC now owns 794 shares of the company’s stock valued at $534,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.7%

NYSE MCK opened at $806.13 on Wednesday. The company has a fifty day simple moving average of $734.38 and a two-hundred day simple moving average of $716.40. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $812.69. The stock has a market cap of $100.27 billion, a P/E ratio of 32.14, a P/E/G ratio of 1.46 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its 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 business had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. During the same period last year, the business earned $7.88 EPS. The company’s revenue for the quarter was up 23.4% on a year-over-year basis. As a group, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MCK has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Morgan Stanley raised their price target on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Leerink Partners raised their price target on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, UBS Group raised their price target on shares of McKesson from $860.00 to $920.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $839.15.

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.