McKesson Co. (NYSE:MCK) Shares Sold by Empowered Funds LLC

Empowered Funds LLC decreased its position in shares of McKesson Co. (NYSE:MCK – Get Rating) by 3.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,782 shares of the company’s stock after selling 234 shares during the period. Empowered Funds LLC’s holdings in McKesson were worth $1,966,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MCK. WCM Investment Management LLC acquired a new position in McKesson during the 3rd quarter worth about $302,630,000. Artisan Partners Limited Partnership acquired a new position in McKesson during the 2nd quarter worth about $144,978,000. Artemis Investment Management LLP acquired a new position in McKesson during the 2nd quarter worth about $109,168,000. Arrowstreet Capital Limited Partnership lifted its stake in McKesson by 53.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock worth $280,399,000 after acquiring an additional 320,588 shares in the last quarter. Finally, Great West Life Assurance Co. Can acquired a new position in McKesson during the 3rd quarter worth about $73,045,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lori A. Schechter sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $379.79, for a total transaction of $949,475.00. Following the transaction, the executive vice president now owns 4,178 shares in the company, valued at approximately $1,586,762.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other McKesson news, EVP Lori A. Schechter sold 2,500 shares of McKesson stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $379.79, for a total value of $949,475.00. Following the transaction, the executive vice president now directly owns 4,178 shares in the company, valued at approximately $1,586,762.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tracy Faber sold 10,733 shares of McKesson stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $391.58, for a total value of $4,202,828.14. The disclosure for this sale can be found here. Insiders have sold 15,733 shares of company stock worth $6,129,853 in the last quarter. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCK has been the topic of a number of analyst reports. Cowen increased their price target on McKesson from $384.00 to $416.00 in a research report on Wednesday, November 2nd. Barclays increased their price target on McKesson from $375.00 to $415.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 2nd. Cowen increased their price target on McKesson from $384.00 to $416.00 in a research report on Wednesday, November 2nd. Robert W. Baird increased their price target on McKesson from $440.00 to $445.00 and gave the company an “outperform” rating in a research report on Wednesday, January 11th. Finally, StockNews.com initiated coverage on McKesson in a research report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average target price of $411.20.

McKesson Stock Up 0.4 %

NYSE:MCK opened at $376.50 on Wednesday. The stock’s 50 day moving average price is $377.89 and its 200 day moving average price is $363.81. The company has a market capitalization of $53.38 billion, a PE ratio of 26.57, a P/E/G ratio of 1.50 and a beta of 0.63. McKesson Co. has a 52-week low of $238.59 and a 52-week high of $401.78.

McKesson (NYSE:MCK – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The company reported $6.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.13 by ($0.07). The firm had revenue of $70.16 billion for the quarter, compared to analysts’ expectations of $69.66 billion. McKesson had a negative return on equity of 267.09% and a net margin of 0.76%. As a group, sell-side analysts anticipate that McKesson Co. will post 24.78 EPS for the current fiscal year.

About McKesson

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.