First Trust Direct Indexing L.P. Has $2.13 Million Holdings in McKesson Co. (NYSE:MCK)

First Trust Direct Indexing L.P. cut its stake in shares of McKesson Co. (NYSE:MCK) by 28.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,297 shares of the company’s stock after selling 1,707 shares during the period. First Trust Direct Indexing L.P.’s holdings in McKesson were worth $2,125,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Distillate Capital Partners LLC lifted its position in McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after acquiring an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp lifted its position in McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC lifted its position in McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the last quarter. Councilmark Asset Management LLC acquired a new stake in McKesson during the first quarter worth approximately $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new stake in McKesson during the second quarter worth approximately $238,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

NYSE MCK opened at $499.39 on Thursday. The firm’s fifty day moving average price is $513.72 and its two-hundred day moving average price is $550.56. The stock has a market cap of $64.89 billion, a PE ratio of 22.31, a PEG ratio of 1.18 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.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.27 earnings per share. As a group, sell-side analysts predict that McKesson Co. will post 31.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’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 sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of analyst reports. Mizuho lifted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays lifted their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Citigroup dropped their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Finally, Leerink Partners dropped their price target 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. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $610.86.

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.