SurgoCap Partners LP Acquires New Holdings in McKesson Corporation $MCK

SurgoCap Partners LP bought a new stake 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 376,870 shares of the company’s stock, valued at approximately $284,763,000. McKesson makes up about 9.2% of SurgoCap Partners LP’s investment portfolio, making the stock its 6th largest position.

Several other hedge funds also recently bought and sold shares of MCK. Brighton Jones LLC lifted its holdings in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of McKesson in the first quarter worth about $233,000. Sivia Capital Partners LLC raised its position in shares of McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina raised its position in shares of McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after purchasing an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. bought a new position in shares of McKesson during the 2nd quarter valued at about $166,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. UBS Group raised their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Finally, Evercore reaffirmed an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $973.44.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. This represents 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. Insiders have sold a total of 23,111 shares of company stock valued at $18,011,274 over the last quarter. 0.06% of the stock is currently owned by corporate insiders.

McKesson Stock Up 1.8%

NYSE:MCK opened at $874.20 on Tuesday. McKesson Corporation has a twelve month low of $673.38 and a twelve month high of $999.00. The business has a 50 day moving average price of $822.86 and a two-hundred day moving average price of $844.00. The company has a market cap of $101.92 billion, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30.

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

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is presently 8.78%.

About McKesson

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.