Rhenman & Partners Asset Management AB Buys 4,000 Shares of McKesson Co. (NYSE:MCK)

Rhenman & Partners Asset Management AB raised its stake in shares of McKesson Co. (NYSE:MCK) by 13.3% in the 4th quarter, HoldingsChannel reports. The firm owned 34,117 shares of the company’s stock after purchasing an additional 4,000 shares during the period. McKesson makes up 2.0% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 18th biggest position. Rhenman & Partners Asset Management AB’s holdings in McKesson were worth $19,444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC grew its position in McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock worth $1,513,195,000 after acquiring an additional 10,015 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock worth $1,493,704,000 after purchasing an additional 114,396 shares in the last quarter. Norges Bank bought a new position in shares of McKesson during the 4th quarter valued at about $1,200,361,000. Boston Partners raised its holdings in shares of McKesson by 24.6% during the 4th quarter. Boston Partners now owns 1,096,301 shares of the company’s stock valued at $625,501,000 after buying an additional 216,432 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Morgan Stanley boosted their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Mizuho increased their target price on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $661.00.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Down 4.8 %

NYSE:MCK opened at $682.41 on Friday. The firm’s fifty day simple moving average is $633.37 and its 200 day simple moving average is $584.91. The stock has a market cap of $85.52 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.42%. McKesson’s payout ratio is 13.00%.

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.