Ancora Advisors LLC Decreases Holdings in McKesson Co. (NYSE:MCK)

Ancora Advisors LLC lowered its position in McKesson Co. (NYSE:MCK) by 4.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 12,385 shares of the company’s stock after selling 632 shares during the period. Ancora Advisors LLC’s holdings in McKesson were worth $6,649,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Dynasty Wealth Management LLC bought a new stake in shares of McKesson in the 1st quarter valued at about $1,086,000. Sweeney & Michel LLC purchased a new position in McKesson in the 1st quarter worth approximately $497,000. Oxford Wealth Group LLC purchased a new stake in shares of McKesson during the first quarter valued at approximately $1,045,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of McKesson by 3.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 507,682 shares of the company’s stock worth $272,549,000 after purchasing an additional 19,112 shares during the last quarter. Finally, Benchmark Investment Advisors LLC purchased a new position in shares of McKesson in the first quarter worth $881,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 1.2 %

McKesson stock traded up $7.49 during mid-day trading on Wednesday, hitting $617.21. The company had a trading volume of 320,258 shares, compared to its average volume of 698,353. McKesson Co. has a 12 month low of $395.30 and a 12 month high of $621.07. The stock’s 50 day moving average price is $584.73 and its two-hundred day moving average price is $544.59. The company has a market capitalization of $80.20 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on MCK shares. Morgan Stanley increased their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Citigroup boosted their price target on McKesson from $620.00 to $670.00 and gave the company a “buy” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. TD Cowen lifted their price objective on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Argus lifted their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $599.33.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, Director Maria Martinez sold 483 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Wednesday, June 5th. The stock was 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 of the company’s stock, valued at $51,607,866.45. The disclosure for this sale can be found here. Insiders sold 29,567 shares of company stock valued at $16,691,841 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

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.