McKesson Corporation $MCK Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 12.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,913 shares of the company’s stock after acquiring an additional 2,225 shares during the period. NEOS Investment Management LLC’s holdings in McKesson were worth $15,046,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Secure Asset Management LLC raised its position in shares of McKesson by 484.8% in the second quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock valued at $1,604,000 after buying an additional 1,760 shares during the last quarter. Walter Public Investments Inc. purchased a new stake in McKesson in the 4th quarter worth approximately $6,538,000. Summit Global Investments acquired a new position in McKesson in the 2nd quarter valued at $1,159,000. One Wealth Advisors LLC purchased a new position in shares of McKesson during the 2nd quarter worth $1,494,000. Finally, North Dakota State Investment Board acquired a new stake in shares of McKesson during the fourth quarter worth $3,969,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 1.5%

NYSE:MCK opened at $907.35 on Friday. The firm has a market capitalization of $105.79 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.83 and a beta of 0.30. The firm’s fifty day simple moving average is $848.13 and its 200 day simple moving average is $843.09. McKesson Corporation has a twelve month low of $682.35 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) 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 firm had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the prior year, the firm earned $8.26 EPS. The firm’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, analysts predict that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is 10.06%.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Citigroup lifted their price target on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. 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. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $973.44.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,156 shares of company stock worth $17,305,242 over the last three months. 0.06% of the stock is currently owned by corporate insiders.

About McKesson

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.