Elyxium Wealth LLC Has $361,000 Position in McKesson Corporation $MCK

Elyxium Wealth LLC increased its position in McKesson Corporation (NYSE:MCK) by 19.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 493 shares of the company’s stock after acquiring an additional 80 shares during the period. Elyxium Wealth LLC’s holdings in McKesson were worth $361,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its holdings in McKesson by 1.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after buying an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC increased its holdings in McKesson by 2.2% in the second quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after buying an additional 14 shares during the last quarter. SteelPeak Wealth LLC increased its holdings in McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after buying an additional 15 shares during the last quarter. Cypress Wealth Services LLC increased its holdings in McKesson by 3.7% in the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after buying an additional 15 shares during the last quarter. Finally, HBK Sorce Advisory LLC increased its holdings in McKesson by 1.4% in the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock worth $866,000 after buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of a number of research reports. Citigroup increased their price objective on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Deutsche Bank Aktiengesellschaft increased their price target on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company increased their price target on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Finally, Jefferies Financial Group increased their price target on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $839.15.

Insider Activity at McKesson

In related news, 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 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 $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction 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 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. The SEC filing for this sale provides additional information. Insiders sold 24,189 shares of company stock valued at $16,722,190 over the last three months. 0.08% of the stock is owned by company insiders.

McKesson Trading Up 1.1%

MCK opened at $820.42 on Tuesday. McKesson Corporation has a 1-year low of $520.20 and a 1-year high of $846.32. The stock has a market capitalization of $102.05 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 1.46 and a beta of 0.52. The business has a 50 day moving average of $744.21 and a 200-day moving average of $720.04.

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 net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same period in the prior year, the company posted $7.88 earnings per share. The firm’s revenue was up 23.4% compared to the same quarter last year. Equities analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio is currently 13.08%.

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.