Ladenburg Thalmann Financial Services Inc. grew its holdings in McKesson Co. (NYSE:MCK) by 6.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,271 shares of the company’s stock after purchasing an additional 1,129 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in McKesson were worth $2,962,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of MCK. Captrust Financial Advisors bought a new position in shares of McKesson in the second quarter valued at $107,000. Harvest Fund Management Co. Ltd bought a new position in McKesson during the second quarter worth $125,000. WFG Advisors LP boosted its position in McKesson by 5.0% during the second quarter. WFG Advisors LP now owns 859 shares of the company’s stock worth $141,000 after purchasing an additional 41 shares during the period. Atwood & Palmer Inc. bought a new position in McKesson during the second quarter worth $165,000. Finally, CWH Capital Management Inc. bought a new position in McKesson during the second quarter worth $165,000. Institutional investors own 88.10% of the company’s stock.
A number of equities analysts have commented on MCK shares. Needham & Company LLC set a $178.00 price objective on shares of McKesson and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Credit Suisse Group reissued an “underperform” rating and issued a $130.00 target price (down previously from $155.00) on shares of McKesson in a research report on Thursday, November 9th. TheStreet cut shares of McKesson from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Royal Bank of Canada reissued a “hold” rating and issued a $170.00 target price on shares of McKesson in a research report on Friday, October 27th. Finally, Morgan Stanley cut shares of McKesson from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $184.00 to $172.00 in a research report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $174.31.
McKesson (NYSE:MCK) last issued its earnings results on Thursday, October 26th. The company reported $3.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.78 by $0.50. The firm had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. McKesson had a return on equity of 24.87% and a net margin of 2.24%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.94 earnings per share. analysts anticipate that McKesson Co. will post 12.19 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson’s payout ratio is 6.45%.
In other McKesson news, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $153.51, for a total transaction of $15,351,000.00. Following the completion of the transaction, the chief executive officer now owns 165,000 shares of the company’s stock, valued at $25,329,150. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John H. Hammergren sold 125,000 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total value of $18,772,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 949,000 shares of company stock valued at $145,263,360. Insiders own 1.20% of the company’s stock.
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McKesson Company Profile
McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
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