Cambridge Trust Co. Grows Stock Position in McKesson Co. (NYSE:MCK)

Cambridge Trust Co. raised its holdings in shares of McKesson Co. (NYSE:MCK – Get Rating) by 13.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 335 shares of the company’s stock after purchasing an additional 41 shares during the period. Cambridge Trust Co.’s holdings in McKesson were worth $126,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MCK. Covestor Ltd increased its stake in shares of McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Almanack Investment Partners LLC. purchased a new position in McKesson during the third quarter worth $41,000. Worth Asset Management LLC acquired a new position in shares of McKesson in the first quarter worth $41,000. Fairfield Bush & CO. purchased a new stake in shares of McKesson in the first quarter valued at $46,000. Finally, Orion Capital Management LLC acquired a new stake in shares of McKesson during the third quarter valued at $49,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MCK. Morgan Stanley boosted their target price on shares of McKesson from $420.00 to $426.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. StockNews.com assumed coverage on shares of McKesson in a research report on Thursday. They issued a “strong-buy” rating for the company. Robert W. Baird raised their target price on shares of McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. Finally, UBS Group cut their price target on McKesson from $450.00 to $440.00 and set a “buy” rating for the company in a report on Tuesday, January 31st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $416.30.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 7,416 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the sale, the chief executive officer now directly owns 75,737 shares in the company, valued at approximately $28,780,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other McKesson news, EVP Nancy Avila sold 161 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $370.02, for a total value of $59,573.22. Following the completion of the transaction, the executive vice president now owns 4,631 shares in the company, valued at approximately $1,713,562.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 7,416 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total transaction of $2,818,080.00. Following the completion of the sale, the chief executive officer now directly owns 75,737 shares of the company’s stock, valued at approximately $28,780,060. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

McKesson Trading Down 0.2 %

MCK stock opened at $339.35 on Friday. The company has a market cap of $46.47 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.25 and a beta of 0.59. The stock has a 50-day moving average price of $362.87 and a two-hundred day moving average price of $366.41. McKesson Co. has a 12-month low of $292.40 and a 12-month high of $401.78.

McKesson (NYSE:MCK – Get Rating) last issued its earnings results on Wednesday, February 1st. The company reported $6.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.36 by $0.54. McKesson had a negative return on equity of 216.12% and a net margin of 1.15%. The business had revenue of $70.49 billion during the quarter, compared to analysts’ expectations of $70.98 billion. During the same quarter in the previous year, the business earned $6.15 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts forecast that McKesson Co. will post 25.93 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 1st will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Tuesday, February 28th. McKesson’s dividend payout ratio is presently 9.88%.

About McKesson

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).