Avidity Partners Management LP Increases Stock Holdings in McKesson Corporation $MCK

Avidity Partners Management LP raised its stake in shares of McKesson Corporation (NYSE:MCK) by 64.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,520 shares of the company’s stock after purchasing an additional 3,720 shares during the quarter. McKesson accounts for about 2.3% of Avidity Partners Management LP’s holdings, making the stock its 12th biggest holding. Avidity Partners Management LP’s holdings in McKesson were worth $7,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. lifted its position in McKesson by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares during the last quarter. Investment Research Partners LLC grew its position in McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after acquiring an additional 11 shares during the last quarter. Obsidian Personal Planning Solutions LLC grew its position in McKesson by 2.9% during the third quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock valued at $346,000 after acquiring an additional 12 shares during the last quarter. LRI Investments LLC grew its position in McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock valued at $91,000 after acquiring an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC grew its position in McKesson by 3.9% during the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after acquiring an additional 12 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 0.4%

NYSE:MCK opened at $783.88 on Friday. The stock has a market cap of $94.22 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31. The firm’s fifty day simple moving average is $798.10 and its 200 day simple moving average is $846.35. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is 8.53%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MCK. UBS Group increased their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. William Blair began coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Leerink Partners restated an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a report on Thursday, March 5th. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 4,929 shares of McKesson stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $763.00, for a total value of $3,760,827.00. Following the sale, the chief executive officer owned 22,845 shares in the company, valued at $17,430,735. The trade was a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This represents a 23.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 11,822 shares of company stock worth $8,986,212. 0.08% of the stock is currently owned by insiders.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.