Howard Capital Management Inc. Increases Position in McKesson Corporation $MCK

Howard Capital Management Inc. raised its position in shares of McKesson Corporation (NYSE:MCK) by 11.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 858 shares of the company’s stock after purchasing an additional 88 shares during the period. Howard Capital Management Inc.’s holdings in McKesson were worth $629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC grew its holdings 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 valued at $254,979,000 after purchasing an additional 68,294 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in McKesson in the first quarter worth $289,000. Archford Capital Strategies LLC boosted its position in McKesson by 151.8% during the second quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock valued at $1,668,000 after buying an additional 1,372 shares during the period. LPL Financial LLC grew its stake in shares of McKesson by 12.8% during the first quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after buying an additional 17,750 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of McKesson by 3.3% in the first quarter. Focus Partners Wealth now owns 71,558 shares of the company’s stock worth $48,159,000 after buying an additional 2,283 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of McKesson 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 transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 24,189 shares of company stock valued at $16,722,190 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCK. Wells Fargo & Company raised their price target on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. boosted their price objective on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Bank of America boosted their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. TD Cowen boosted their price objective on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $839.15.

McKesson Stock Performance

Shares of MCK opened at $808.02 on Thursday. McKesson Corporation has a fifty-two week low of $492.39 and a fifty-two week high of $812.69. The firm’s 50-day simple moving average is $736.50 and its two-hundred day simple moving average is $717.23. The stock has a market cap of $100.50 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 1.45 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results 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). The company had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business’s quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.88 EPS. Equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

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.