McKesson Corporation $MCK Shares Newly Purchased by Sanders Morris Harris LLC

Sanders Morris Harris LLC purchased a new stake in McKesson Corporation (NYSE:MCK) during the 3rd quarter, Holdings Channel reports. The fund purchased 3,370 shares of the company’s stock, valued at approximately $2,877,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. N10 Wealth LLC grew its holdings in McKesson by 34.4% during the 3rd quarter. N10 Wealth LLC now owns 10,215 shares of the company’s stock valued at $8,722,000 after buying an additional 2,616 shares during the last quarter. N10 Assets LLC raised its holdings in shares of McKesson by 27.9% in the third quarter. N10 Assets LLC now owns 9,615 shares of the company’s stock worth $8,209,000 after acquiring an additional 2,099 shares during the last quarter. First Citizens Bank & Trust Co. raised its holdings in shares of McKesson by 95.9% in the third quarter. First Citizens Bank & Trust Co. now owns 4,830 shares of the company’s stock worth $4,124,000 after acquiring an additional 2,365 shares during the last quarter. Focus Financial Network Inc. lifted its position in shares of McKesson by 67.1% in the third quarter. Focus Financial Network Inc. now owns 707 shares of the company’s stock valued at $605,000 after acquiring an additional 284 shares in the last quarter. Finally, XY Planning Network Inc. lifted its position in shares of McKesson by 9.3% in the third quarter. XY Planning Network Inc. now owns 365 shares of the company’s stock valued at $312,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 1.6%

Shares of MCK stock traded up $15.43 on Wednesday, reaching $977.31. 767,923 shares of the stock were exchanged, compared to its average volume of 933,234. The stock has a market cap of $113.94 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 2.00 and a beta of 0.30. The firm has a 50 day moving average of $890.43 and a two-hundred day moving average of $834.56. McKesson Corporation has a 1-year low of $723.68 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities research analysts predict that McKesson Corporation will post 44.73 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were paid a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is 10.06%.

Insider Activity

In other news, CAO B Jr sold 111 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the sale, the chief accounting officer owned 521 shares in the company, valued at approximately $464,445.45. This trade represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The SEC filing for this sale provides additional information. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MCK shares. Citigroup increased their price objective on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. TD Cowen upped their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and set a $950.00 price target (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Finally, Wells Fargo & Company raised 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. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $983.29.

McKesson Company Profile

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.