McKesson Co. (NYSE:MCK) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC lowered its position in shares of McKesson Co. (NYSE:MCK) by 24.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,756 shares of the company’s stock after selling 909 shares during the quarter. SteelPeak Wealth LLC’s holdings in McKesson were worth $1,573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the 3rd quarter valued at $29,000. Wolff Wiese Magana LLC raised its position in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the third quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in McKesson during the third quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC grew its stake in McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on MCK. Evercore ISI raised their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Leerink Partners cut their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company raised their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $646.14.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.1 %

Shares of NYSE MCK opened at $603.79 on Thursday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The business’s 50 day moving average is $592.16 and its two-hundred day moving average is $561.52. The firm has a market cap of $76.64 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 1.26 and a beta of 0.52.

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 company 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%. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the business posted $6.23 EPS. Analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

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.