Lombard Odier Asset Management Europe Ltd Acquires New Shares in McKesson Corporation $MCK

Lombard Odier Asset Management Europe Ltd bought a new position in McKesson Corporation (NYSE:MCK) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,541 shares of the company’s stock, valued at approximately $1,920,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Archer Investment Corp purchased a new stake in shares of McKesson during the 2nd quarter valued at about $144,000. Fox Hill Wealth Management purchased a new position in shares of McKesson during the second quarter valued at approximately $814,000. Kingsview Wealth Management LLC purchased a new position in shares of McKesson during the second quarter valued at approximately $4,328,000. Beacon Pointe Advisors LLC bought a new position in McKesson during the second quarter valued at approximately $15,371,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in McKesson in the second quarter worth approximately $19,160,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. UBS Group upped their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Robert W. Baird set a $1,015.00 target price on McKesson in a research report on Thursday, August 6th. Finally, TD Cowen boosted their price target on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $973.44.

McKesson Price Performance

NYSE:MCK opened at $895.59 on Friday. McKesson Corporation has a one year low of $679.65 and a one year high of $999.00. The business has a fifty day moving average price of $833.31 and a 200-day moving average price of $844.13. The firm has a market capitalization of $104.42 billion, a price-to-earnings ratio of 23.97, a price-to-earnings-growth ratio of 1.75 and a beta of 0.30.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the previous year, the business earned $8.26 earnings per share. McKesson’s quarterly revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 8.78%.

Key McKesson News

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Expansion into precision medicine: McKesson agreed to acquire privately held Precision Medicine Group for approximately $2.25 billion. Precision Medicine provides clinical research, laboratory testing and commercialization services for biotechnology and pharmaceutical companies, giving McKesson greater exposure to oncology, personalized medicine and specialty care. McKesson Doubles Down on Healthcare Growth With Precision Medicine Acquisition
• Positive Sentiment: Higher-growth service mix: The acquisition is expected to strengthen McKesson’s clinical research and commercialization capabilities and deepen relationships with biopharmaceutical companies and oncology practices. Investors may view the transaction as a way to reduce reliance on lower-margin pharmaceutical distribution and participate in growth tied to new drug development. What Does McKesson Gain From Its Push Into Oncology And Clinical Research?
• Neutral Sentiment: Portfolio repositioning amid workforce changes: Coverage noted layoffs at Rx Savings while McKesson plans the Precision Medicine acquisition. The combination highlights an ongoing reallocation of resources, although the near-term effect on earnings and integration costs remains uncertain. Amid Layoffs, McKesson Plans Acquisition
• Negative Sentiment: Cybersecurity incident disclosed: McKesson reported discovering a cybersecurity incident on August 25 after the ShinyHunters group claimed it had stolen patient data. The company’s investigation and any resulting regulatory, remediation, privacy or reputational costs could weigh on sentiment, although the ultimate scope and financial impact were not yet clear. McKesson Discloses Breach After ShinyHunters Claims Patient Data Theft

Insider Buying and Selling

In related news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 23,111 shares of company stock valued at $18,011,274. Insiders own 0.06% of the company’s stock.

McKesson Company 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.