4,030 Shares in McKesson Corporation $MCK Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new position in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,030 shares of the company’s stock, valued at approximately $3,047,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Alta Advisers Ltd purchased a new position in shares of McKesson during the second quarter worth approximately $379,000. Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of McKesson in the 2nd quarter valued at $14,465,000. Commerce Bank bought a new position in shares of McKesson during the 2nd quarter valued at $103,887,000. Northwestern Mutual Wealth Management Co. purchased a new position in McKesson in the 2nd quarter worth $7,347,000. Finally, Quantbot Technologies LP bought a new stake in McKesson in the second quarter worth $14,690,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 2.8%

McKesson stock opened at $862.27 on Friday. The firm has a market cap of $100.53 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.30. McKesson Corporation has a 1-year low of $673.38 and a 1-year high of $999.00. The firm has a 50-day moving average of $820.97 and a 200-day moving average of $843.86.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.McKesson’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is presently 8.78%.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The SEC filing for this sale provides additional information. Insiders have sold 29,049 shares of company stock valued at $22,530,626 over the last 90 days. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MCK shares. Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Barclays increased their target price on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. William Blair assumed coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Finally, Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $973.44.

McKesson Company 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.