Ladenburg Thalmann Financial Services Inc. lessened its position in shares of McKesson Co. (NYSE:MCK) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,252 shares of the company’s stock after selling 3,019 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in McKesson were worth $2,544,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of MCK. Icon Wealth Partners LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $111,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its holdings in shares of McKesson by 176.6% in the 4th quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 769 shares of the company’s stock valued at $130,000 after buying an additional 491 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of McKesson in the 3rd quarter valued at about $155,000. Virtue Capital Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $180,000. Finally, Focused Wealth Management Inc lifted its holdings in shares of McKesson by 650.0% in the 4th quarter. Focused Wealth Management Inc now owns 1,200 shares of the company’s stock valued at $187,000 after buying an additional 1,040 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.
In related news, SVP Erin M. Lampert sold 1,413 shares of the company’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $149.38, for a total value of $211,073.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
Several equities analysts have recently issued reports on the company. Needham & Company LLC boosted their price objective on McKesson from $173.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Robert W. Baird reissued a “buy” rating and issued a $200.00 price objective on shares of McKesson in a report on Wednesday, January 17th. Mizuho set a $186.00 price objective on McKesson and gave the company a “hold” rating in a report on Wednesday, January 24th. Jefferies Group raised McKesson from a “hold” rating to a “buy” rating and set a $205.00 price objective for the company in a report on Wednesday, January 24th. Finally, Credit Suisse Group reissued a “sell” rating and issued a $130.00 price objective on shares of McKesson in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. McKesson presently has a consensus rating of “Hold” and a consensus target price of $176.74.
McKesson Co. (MCK) opened at $141.69 on Friday. The firm has a market capitalization of $29,490.01, a PE ratio of 11.40, a P/E/G ratio of 1.36 and a beta of 1.29. McKesson Co. has a fifty-two week low of $133.82 and a fifty-two week high of $178.86. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.
McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, February 1st. The company reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.49. The company had revenue of $53.62 billion during the quarter, compared to analysts’ expectations of $51.98 billion. McKesson had a return on equity of 22.98% and a net margin of 2.34%. McKesson’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.04 EPS. analysts forecast that McKesson Co. will post 12.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 1st will be issued a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $1.36 dividend on an annualized basis and a yield of 0.96%. McKesson’s payout ratio is 6.03%.
COPYRIGHT VIOLATION WARNING: “McKesson Co. (MCK) Shares Sold by Ladenburg Thalmann Financial Services Inc.” was posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.thelincolnianonline.com/2018/03/23/mckesson-co-mck-shares-sold-by-ladenburg-thalmann-financial-services-inc.html.
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.
Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK).
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.