McKesson Co. (NYSE:MCK) Shares Purchased by SteelPeak Wealth LLC

SteelPeak Wealth LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 13.7% in the 3rd quarter, Holdings Channel reports. The fund owned 3,665 shares of the company’s stock after buying an additional 443 shares during the period. SteelPeak Wealth LLC’s holdings in McKesson were worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Pinnacle Associates Ltd. grew its stake in shares of McKesson by 11.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,582 shares of the company’s stock worth $1,196,000 after purchasing an additional 268 shares during the period. Trajan Wealth LLC grew its position in McKesson by 19.5% during the third quarter. Trajan Wealth LLC now owns 12,248 shares of the company’s stock valued at $6,056,000 after buying an additional 1,999 shares during the period. Mutual Advisors LLC grew its position in McKesson by 12.6% during the third quarter. Mutual Advisors LLC now owns 3,032 shares of the company’s stock valued at $1,531,000 after buying an additional 340 shares during the period. WD Rutherford LLC increased its holdings in McKesson by 43.2% in the third quarter. WD Rutherford LLC now owns 5,384 shares of the company’s stock valued at $2,662,000 after buying an additional 1,624 shares in the last quarter. Finally, Deltec Asset Management LLC acquired a new position in shares of McKesson in the third quarter worth about $742,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Up 0.0 %

NYSE:MCK opened at $499.39 on Thursday. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The stock’s fifty day moving average is $513.72 and its two-hundred day moving average is $550.56. The company has a market capitalization of $64.89 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.27 EPS. Sell-side analysts anticipate that McKesson Co. will post 31.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MCK shares. StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Wells Fargo & Company cut their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Barclays raised their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $610.86.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

About McKesson

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.