McKesson Corporation $MCK Stock: Oppenheimer & Co. Inc. Raises Stake

Oppenheimer & Co. Inc. lifted its holdings in shares of McKesson Corporation (NYSE:MCK) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,593 shares of the company’s stock after purchasing an additional 627 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in McKesson were worth $4,775,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Segment Wealth Management LLC boosted its holdings in shares of McKesson by 0.4% in the 3rd quarter. Segment Wealth Management LLC now owns 30,506 shares of the company’s stock worth $26,046,000 after purchasing an additional 123 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of McKesson by 2.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 10,977 shares of the company’s stock valued at $9,372,000 after purchasing an additional 314 shares during the last quarter. Lakewood Asset Management LLC raised its holdings in shares of McKesson by 8.3% during the 3rd quarter. Lakewood Asset Management LLC now owns 4,414 shares of the company’s stock valued at $3,768,000 after buying an additional 339 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in shares of McKesson by 28.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 9,745 shares of the company’s stock valued at $8,320,000 after buying an additional 2,129 shares in the last quarter. Finally, Level Wealth Management LLC purchased a new position in shares of McKesson during the 3rd quarter valued at about $255,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on MCK. Wells Fargo & Company increased their price target on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Barclays lifted their price target on shares of McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. TD Cowen boosted their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a research note on Thursday, August 6th. Finally, Bank of America upped their price objective on shares of McKesson from $950.00 to $1,050.00 in a research note on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $997.12.

McKesson Price Performance

MCK opened at $981.65 on Friday. The stock’s 50 day simple moving average is $919.47 and its 200 day simple moving average is $862.04. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $1,030.27. The firm has a market cap of $114.45 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 1.91 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS 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 business had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same period in the previous 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. As a group, sell-side analysts anticipate that McKesson Corporation will post 44.71 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, December 1st. McKesson’s payout ratio is currently 10.06%.

Insider Activity at McKesson

In related news, Director Bradley Lerman sold 301 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO B Jr sold 111 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at $464,445.45. This trade represents a 17.56% 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. Insiders sold a total of 1,212 shares of company stock worth $1,164,182 over the last quarter. 0.06% of the stock is owned by corporate insiders.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.