Lazard Asset Management LLC Sells 13,171 Shares of McKesson Co. (NYSE:MCK)

Lazard Asset Management LLC lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 33.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,746 shares of the company’s stock after selling 13,171 shares during the quarter. Lazard Asset Management LLC’s holdings in McKesson were worth $13,821,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Register Financial Advisors LLC acquired a new position in McKesson during the 1st quarter worth $29,000. Sachetta LLC acquired a new position in shares of McKesson during the 4th quarter worth about $27,000. Newbridge Financial Services Group Inc. boosted its stake in McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the period. Richardson Financial Services Inc. acquired a new stake in McKesson in the 4th quarter valued at approximately $31,000. Finally, Rise Advisors LLC bought a new position in McKesson in the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 0.7 %

MCK stock traded up $4.43 during trading on Friday, hitting $600.16. 634,064 shares of the stock traded hands, compared to its average volume of 629,093. The stock has a market cap of $77.98 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 1.40 and a beta of 0.45. McKesson Co. has a one year low of $395.30 and a one year high of $612.17. The company has a 50 day simple moving average of $582.73 and a 200 day simple moving average of $542.47.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCK. Argus raised their price objective on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Evercore ISI raised their price target on shares of McKesson from $600.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 9th. Robert W. Baird upped their price objective on shares of McKesson from $679.00 to $694.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. TD Cowen increased their target price on shares of McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $599.33.

Insider Transactions at McKesson

In related news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Britt J. Vitalone sold 12,752 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $7,116,763.68. Following the transaction, the chief financial officer now directly owns 14,028 shares in the company, valued at approximately $7,828,886.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,567 shares of company stock worth $16,691,841. 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.