E Fund Management Co. Ltd. Buys Shares of 496 McKesson Co. (NYSE:MCK)

E Fund Management Co. Ltd. acquired a new stake in McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 496 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in McKesson during the third quarter worth about $26,000. BKM Wealth Management LLC purchased a new position in shares of McKesson during the 4th quarter worth $31,000. WASHINGTON TRUST Co increased its position in shares of McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after purchasing an additional 34 shares during the last quarter. Milestone Investment Advisors LLC purchased a new stake in McKesson in the 3rd quarter valued at about $61,000. Finally, Orion Capital Management LLC acquired a new position in McKesson in the third quarter valued at about $63,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MCK. Wells Fargo & Company raised their price target on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday. 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. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. TD Cowen lifted their price objective on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays raised their price target on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $571.47.

Insider Buying and Selling at McKesson

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

McKesson Trading Up 2.1 %

Shares of MCK opened at $555.12 on Friday. The company’s 50 day simple moving average is $531.56 and its 200-day simple moving average is $494.15. McKesson Co. has a 12-month low of $373.28 and a 12-month high of $566.01. The firm has a market cap of $72.95 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $7.19 earnings per share. As a group, equities research analysts forecast that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.62 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.45%. McKesson’s dividend payout ratio (DPR) is 11.08%.

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.