Icon Wealth Advisors LLC Purchases 1,917 Shares of McKesson Co. (NYSE:MCK)

Icon Wealth Advisors LLC increased its position in McKesson Co. (NYSE:MCK) by 457.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,336 shares of the company’s stock after buying an additional 1,917 shares during the period. Icon Wealth Advisors LLC’s holdings in McKesson were worth $1,155,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of McKesson in the first quarter valued at about $81,000. 1832 Asset Management L.P. purchased a new stake in McKesson during the 1st quarter valued at approximately $102,000. LRI Investments LLC bought a new stake in shares of McKesson during the first quarter valued at approximately $177,000. Bellevue Group AG boosted its position in shares of McKesson by 85.4% during the first quarter. Bellevue Group AG now owns 8,997 shares of the company’s stock worth $4,830,000 after acquiring an additional 4,144 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in McKesson by 5.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 87,520 shares of the company’s stock valued at $46,985,000 after acquiring an additional 4,727 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MCK shares. Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Evercore ISI increased their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Citigroup boosted their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $631.57.

McKesson Stock Performance

NYSE:MCK opened at $623.19 on Friday. The stock has a market capitalization of $79.11 billion, a PE ratio of 32.27, a P/E/G ratio of 1.36 and a beta of 0.44. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The company has a fifty day moving average of $530.98 and a two-hundred day moving average of $557.36.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.23 earnings per share. Research analysts forecast that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

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.