Avanza Fonder AB Makes New Investment in McKesson Co. (NYSE:MCK)

Avanza Fonder AB acquired a new position in McKesson Co. (NYSE:MCK) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 13,866 shares of the company’s stock, valued at approximately $7,902,000.

A number of other hedge funds have also recently made changes to their positions in MCK. Wolff Wiese Magana LLC boosted its position in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the third quarter worth about $31,000. ORG Wealth Partners LLC purchased a new stake in McKesson during the third quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC boosted its stake in shares of McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MCK shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Morgan Stanley increased their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Leerink Partners reduced their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $586.61 on Friday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The firm has a market capitalization of $74.46 billion, a price-to-earnings ratio of 30.38, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. The business’s 50 day simple moving average is $595.77 and its 200-day simple moving average is $561.06.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter last year, the business posted $6.23 earnings per share. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is presently 14.71%.

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.