Dai ichi Life Insurance Company Ltd Buys 699 Shares of McKesson Corporation $MCK

Dai ichi Life Insurance Company Ltd boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,315 shares of the company’s stock after buying an additional 699 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in McKesson were worth $15,849,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. Renaissance Technologies LLC increased its position in McKesson by 91.3% during the 1st quarter. Renaissance Technologies LLC now owns 117,246 shares of the company’s stock valued at $101,460,000 after purchasing an additional 55,960 shares during the period. Compound Planning Inc. increased its position in shares of McKesson by 5.4% during the first quarter. Compound Planning Inc. now owns 2,737 shares of the company’s stock worth $2,369,000 after buying an additional 139 shares during the period. Klingman & Associates LLC increased its position in shares of McKesson by 12.8% during the first quarter. Klingman & Associates LLC now owns 291 shares of the company’s stock worth $252,000 after buying an additional 33 shares during the period. Modern Wealth Management LLC raised its stake in McKesson by 10.2% during the first quarter. Modern Wealth Management LLC now owns 929 shares of the company’s stock worth $811,000 after buying an additional 86 shares during the last quarter. Finally, Keebeck Wealth Management raised its stake in McKesson by 8.4% during the first quarter. Keebeck Wealth Management now owns 310 shares of the company’s stock worth $269,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MCK shares. Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Bank of America dropped their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Wells Fargo & Company cut their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Finally, William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $962.67.

McKesson Stock Up 2.0%

Shares of NYSE:MCK opened at $840.76 on Friday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The stock’s 50 day moving average is $780.04 and its 200-day moving average is $838.46. The firm has a market capitalization of $98.43 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.36 and a beta of 0.31.

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

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio is 9.77%.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 28,748 shares of company stock valued at $22,262,035. Insiders own 0.06% of the company’s stock.

Key Stories Impacting McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson boosted its quarterly dividend to $0.94 per share from $0.82, signaling management confidence in cash flow and returning more capital to shareholders. McKesson Raises Quarterly Dividend by 15%
• Positive Sentiment: Shareholders backed the board, auditors, and executive compensation at the annual meeting, reducing governance uncertainty. McKesson Shareholders Back Board, Auditors, and Executive Pay
• Neutral Sentiment: Recent commentary from analysts has been mixed, with one piece noting conflicting views on McKesson and other healthcare names, which may keep sentiment balanced in the near term. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Neutral Sentiment: TD Cowen reportedly lowered expectations for McKesson’s stock price, adding a cautionary note despite the company’s strong operational backdrop. TD Cowen Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

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.