McKesson Corporation $MCK Shares Acquired by Arkadios Wealth Advisors

Arkadios Wealth Advisors lifted its holdings in shares of McKesson Corporation (NYSE:MCK) by 45.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,025 shares of the company’s stock after buying an additional 1,887 shares during the quarter. Arkadios Wealth Advisors’ holdings in McKesson were worth $4,415,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Solstein Capital LLC boosted its stake in shares of McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares during the period. Bank of Jackson Hole Trust boosted its stake in shares of McKesson by 64.3% during the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after buying an additional 41 shares during the period. GFG Capital LLC acquired a new stake in McKesson in the second quarter valued at about $30,000. Finally, Saudi Central Bank acquired a new stake in McKesson in the first quarter valued at about $34,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 0.4%

Shares of McKesson stock opened at $808.02 on Thursday. 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 $100.50 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 1.45 and a beta of 0.52. The company has a 50-day moving average of $736.50 and a two-hundred day moving average of $717.23.

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 analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. During the same period last year, the business posted $7.88 earnings per share. The company’s quarterly revenue was up 23.4% on a year-over-year basis. On average, sell-side analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

Insider Transactions at McKesson

In other McKesson news, 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction dated 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 directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Cowen restated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. JPMorgan Chase & Co. raised 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. Zacks Research upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Monday. Wells Fargo & Company raised their price objective on shares of McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $839.15.

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.