McKesson Corporation $MCK Stock Holdings Reduced by First National Trust Co

First National Trust Co lowered its position in McKesson Corporation (NYSE:MCK) by 8.2% during the second quarter, HoldingsChannel.com reports. The firm owned 2,021 shares of the company’s stock after selling 180 shares during the quarter. First National Trust Co’s holdings in McKesson were worth $1,481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. Acadian Asset Management LLC boosted its stake in shares of McKesson by 22.0% during the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after acquiring an additional 68,294 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of McKesson during the 1st quarter worth about $289,000. Archford Capital Strategies LLC boosted its stake in shares of McKesson by 151.8% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock worth $1,668,000 after acquiring an additional 1,372 shares in the last quarter. LPL Financial LLC boosted its stake in shares of McKesson by 12.8% during the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock worth $104,950,000 after acquiring an additional 17,750 shares in the last quarter. Finally, Focus Partners Wealth boosted its stake in shares of McKesson by 3.3% during the 1st quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock worth $48,159,000 after acquiring an additional 2,283 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $806.13 on Wednesday. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $812.69. The stock has a market capitalization of $100.27 billion, a PE ratio of 32.14, a P/E/G ratio of 1.46 and a beta of 0.52. The stock has a 50-day simple moving average of $734.38 and a 200 day simple moving average of $716.40.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share 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 analyst estimates of $95.93 billion. During the same period in the prior year, the firm posted $7.88 EPS. McKesson’s revenue for the quarter was up 23.4% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. TD Cowen upped their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price target on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Leerink Partners upped their price target on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, UBS Group boosted their price objective on McKesson from $860.00 to $920.00 and gave the stock a “buy” rating in a research report on Monday. One investment 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. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $839.15.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on 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 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. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 24,189 shares of company stock valued at $16,722,190. Insiders own 0.08% of the company’s stock.

McKesson 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.