Kingsview Wealth Management LLC Makes New Investment in McKesson Corporation $MCK

Kingsview Wealth Management LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 5,728 shares of the company’s stock, valued at approximately $4,328,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Beacon Pointe Advisors LLC acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $15,371,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in McKesson during the 2nd quarter worth approximately $19,160,000. Muhlenkamp & Co. Inc. acquired a new position in McKesson during the second quarter valued at approximately $20,554,000. Rakuten Investment Management Inc. acquired a new position in McKesson during the second quarter valued at approximately $14,795,000. Finally, Orion Capital Management LLC bought a new stake in McKesson in the second quarter valued at approximately $109,000. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

MCK has been the topic of several analyst reports. Royal Bank Of Canada started coverage on shares of McKesson in a report on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 target price on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Citigroup raised their price objective on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Robert W. Baird set a $1,015.00 target price on McKesson in a report on Thursday, August 6th. Finally, TD Cowen boosted their target price on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

Insider Transactions at McKesson

In other news, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% 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 sold 23,111 shares of company stock worth $18,011,274. Company insiders own 0.06% of the company’s stock.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Expansion into precision medicine: McKesson agreed to acquire privately held Precision Medicine Group for approximately $2.25 billion. Precision Medicine provides clinical research, laboratory testing and commercialization services for biotechnology and pharmaceutical companies, giving McKesson greater exposure to oncology, personalized medicine and specialty care. McKesson Doubles Down on Healthcare Growth With Precision Medicine Acquisition
• Positive Sentiment: Higher-growth service mix: The acquisition is expected to strengthen McKesson’s clinical research and commercialization capabilities and deepen relationships with biopharmaceutical companies and oncology practices. Investors may view the transaction as a way to reduce reliance on lower-margin pharmaceutical distribution and participate in growth tied to new drug development. What Does McKesson Gain From Its Push Into Oncology And Clinical Research?
• Neutral Sentiment: Portfolio repositioning amid workforce changes: Coverage noted layoffs at Rx Savings while McKesson plans the Precision Medicine acquisition. The combination highlights an ongoing reallocation of resources, although the near-term effect on earnings and integration costs remains uncertain. Amid Layoffs, McKesson Plans Acquisition
• Negative Sentiment: Cybersecurity incident disclosed: McKesson reported discovering a cybersecurity incident on August 25 after the ShinyHunters group claimed it had stolen patient data. The company’s investigation and any resulting regulatory, remediation, privacy or reputational costs could weigh on sentiment, although the ultimate scope and financial impact were not yet clear. McKesson Discloses Breach After ShinyHunters Claims Patient Data Theft

McKesson Stock Performance

Shares of MCK opened at $895.59 on Friday. The firm has a market cap of $104.42 billion, a P/E ratio of 23.97, a PEG ratio of 1.75 and a beta of 0.30. McKesson Corporation has a twelve month low of $679.65 and a twelve month high of $999.00. The firm’s 50 day moving average price is $833.31 and its two-hundred day moving average price is $844.13.

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

McKesson Increases Dividend

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

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.