Robertson Stephens Wealth Management LLC Invests $212,000 in McKesson Co. (NYSE:MCK)

Robertson Stephens Wealth Management LLC purchased a new stake in McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 457 shares of the company’s stock, valued at approximately $212,000.

Several other hedge funds also recently added to or reduced their stakes in MCK. International Assets Investment Management LLC increased its position in shares of McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after purchasing an additional 749,504 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after buying an additional 708,438 shares during the period. Morgan Stanley lifted its stake in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after buying an additional 294,832 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of McKesson by 92.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock valued at $246,969,000 after acquiring an additional 272,266 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in McKesson by 5,683.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock valued at $104,178,000 after acquiring an additional 221,125 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. SVB Leerink assumed coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. UBS Group raised their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Morgan Stanley increased their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Mizuho lifted their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Leerink Partnrs restated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $536.71.

McKesson Price Performance

Shares of NYSE MCK opened at $528.85 on Friday. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $544.81. The company has a 50-day simple moving average of $530.13 and a 200-day simple moving average of $491.57. The company has a market cap of $69.50 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.90 EPS. On average, analysts anticipate that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.62 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio is presently 11.24%.

McKesson Profile

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