RW Investment Management LLC Invests $228,000 in McKesson Co. (NYSE:MCK)

RW Investment Management LLC bought a new position in shares of McKesson Co. (NYSE:MCK) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 461 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds have also added to or reduced their stakes in the company. LRI Investments LLC acquired a new stake in McKesson in the first quarter valued at approximately $28,000. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson during the third quarter worth $29,000. Wolff Wiese Magana LLC raised its stake in 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 last quarter. ORG Wealth Partners LLC bought a new position in McKesson during the third quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in McKesson during the second quarter worth $52,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MCK has been the subject of a number of analyst reports. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Leerink Partners decreased their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Evercore ISI boosted their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two equities research 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 data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average target price of $631.57.

McKesson Trading Down 2.7 %

McKesson stock opened at $604.50 on Thursday. The firm’s 50 day simple moving average is $526.55 and its 200 day simple moving average is $556.24. The firm has a market capitalization of $76.74 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.23 EPS. Research analysts forecast that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.