United Asset Strategies Inc. Sells 140 Shares of McKesson Co. (NYSE:MCK)

United Asset Strategies Inc. cut its holdings in shares of McKesson Co. (NYSE:MCK) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,130 shares of the company’s stock after selling 140 shares during the period. United Asset Strategies Inc.’s holdings in McKesson were worth $9,320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Norges Bank bought a new stake in shares of McKesson in the fourth quarter valued at about $633,960,000. International Assets Investment Management LLC lifted its holdings in shares of McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after purchasing an additional 749,504 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after purchasing an additional 708,438 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of McKesson by 94,078.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock valued at $223,628,000 after purchasing an additional 595,518 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of McKesson by 53.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock valued at $280,399,000 after purchasing an additional 320,588 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MCK shares. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Argus lifted their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Mizuho lifted their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Barclays assumed coverage on McKesson in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price on the stock. Finally, UBS Group lifted their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Price Performance

NYSE MCK traded up $4.17 during trading on Tuesday, reaching $526.85. 117,091 shares of the company’s stock were exchanged, compared to its average volume of 688,750. The business has a 50 day moving average price of $523.34 and a 200-day moving average price of $484.53. The stock has a market capitalization of $69.23 billion, a P/E ratio of 23.68, a PEG ratio of 1.42 and a beta of 0.45. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter in the prior year, the business earned $6.90 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts forecast that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available at this link. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

McKesson Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.