Rhenman & Partners Asset Management AB Sells 1,000 Shares of McKesson Corporation $MCK

Rhenman & Partners Asset Management AB reduced its holdings in McKesson Corporation (NYSE:MCK) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,600 shares of the company’s stock after selling 1,000 shares during the quarter. McKesson accounts for about 2.0% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 13th largest position. Rhenman & Partners Asset Management AB’s holdings in McKesson were worth $20,999,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GGM Financials LLC bought a new position in McKesson in the 3rd quarter worth about $25,000. Swiss RE Ltd. bought a new position in McKesson in the 4th quarter worth about $26,000. State of Wyoming bought a new position in McKesson in the 2nd quarter worth about $29,000. Vermillion & White Wealth Management Group LLC bought a new position in McKesson in the 3rd quarter worth about $33,000. Finally, Board of the Pension Protection Fund bought a new position in shares of McKesson during the 4th quarter valued at about $33,000. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America reduced their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Barclays reduced their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup reduced their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, Raymond James Financial set a $970.00 price objective on McKesson in a research report on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $960.53.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 4,929 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the completion of the sale, the chief executive officer directly owned 22,845 shares in the company, valued at $17,430,735. This represents a 17.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 11,822 shares of company stock valued at $8,986,212. 0.08% of the stock is owned by insiders.

McKesson Trading Down 0.4%

Shares of McKesson stock opened at $783.88 on Friday. The firm has a market capitalization of $94.22 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.30 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The business’s 50-day moving average price is $798.10 and its 200-day moving average price is $846.35.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.McKesson’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is currently 8.53%.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.