Price T Rowe Associates Inc. MD Sells 61,361 Shares of McKesson Co. (NYSE:MCK)

Price T Rowe Associates Inc. MD decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,775,857 shares of the company’s stock after selling 61,361 shares during the period. Price T Rowe Associates Inc. MD’s holdings in McKesson were worth $953,370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MCK. Mutual Advisors LLC raised its stake in McKesson by 21.0% in the fourth quarter. Mutual Advisors LLC now owns 1,220 shares of the company’s stock valued at $565,000 after purchasing an additional 212 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of McKesson by 3.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 31,444 shares of the company’s stock worth $14,558,000 after acquiring an additional 1,075 shares during the last quarter. IFG Advisory LLC purchased a new position in McKesson in the fourth quarter worth $288,000. WASHINGTON TRUST Co increased its stake in McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after acquiring an additional 34 shares during the last quarter. Finally, Good Life Advisors LLC raised its position in McKesson by 13.9% during the fourth quarter. Good Life Advisors LLC now owns 1,657 shares of the company’s stock valued at $767,000 after purchasing an additional 202 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of McKesson stock traded up $4.43 during trading on Friday, hitting $600.16. The company’s stock had a trading volume of 634,064 shares, compared to its average volume of 629,093. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17. The company has a fifty day simple moving average of $582.73 and a two-hundred day simple moving average of $542.47. The company has a market capitalization of $77.98 billion, a PE ratio of 26.82, a P/E/G ratio of 1.40 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $7.19 EPS. As a group, analysts predict that McKesson Co. will post 31.68 EPS for the current year.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at $51,607,866.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total value of $351,318.00. Following the transaction, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the sale, the chief executive officer now owns 89,845 shares in the company, valued at $51,607,866.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,567 shares of company stock worth $16,691,841. 0.11% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. TD Cowen boosted their target price on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Morgan Stanley raised their price target on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Barclays raised their price target on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Argus upped their price objective on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, UBS Group boosted their price target on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $599.33.

McKesson Company 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.