Paralel Advisors LLC Acquires Shares of 2,670 McKesson Corporation $MCK

Paralel Advisors LLC acquired a new stake in McKesson Corporation (NYSE:MCK) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 2,670 shares of the company’s stock, valued at approximately $2,017,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. purchased a new stake in shares of McKesson in the fourth quarter valued at $26,000. State of Wyoming bought a new position in shares of McKesson during the second quarter valued at approximately $29,000. Kingdom Financial Group LLC. bought a new position in shares of McKesson during the fourth quarter valued at approximately $33,000. Finally, Birchwood Financial Partners Inc. purchased a new stake in shares of McKesson in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

NYSE:MCK opened at $841.21 on Friday. McKesson Corporation has a fifty-two week low of $673.38 and a fifty-two week high of $999.00. The stock has a market capitalization of $98.08 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.68 and a beta of 0.30. The company’s 50-day simple moving average is $819.40 and its 200-day simple moving average is $843.73.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter last year, the firm earned $8.26 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts forecast that McKesson Corporation will post 44.65 EPS for the current 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 dividend on an annualized basis and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is 10.06%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MCK shares. UBS Group increased their target price on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Weiss Ratings lowered shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a research report on Thursday, August 6th. Finally, Morgan Stanley reissued an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $973.44.

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.