Valmark Advisers Inc. Acquires 220 Shares of McKesson Co. (NYSE:MCK)

Valmark Advisers Inc. raised its holdings in shares of McKesson Co. (NYSE:MCK) by 31.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 920 shares of the company’s stock after buying an additional 220 shares during the quarter. Valmark Advisers Inc.’s holdings in McKesson were worth $455,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MCK. Swedbank AB bought a new stake in McKesson in the 1st quarter valued at $669,326,000. International Assets Investment Management LLC lifted its stake in shares of McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after buying an additional 734,849 shares during the period. Bessemer Group Inc. grew its position in McKesson by 3,621.7% during the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after buying an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new position in McKesson during the first quarter valued at about $97,510,000. Finally, Assenagon Asset Management S.A. raised its holdings in McKesson by 581.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock valued at $74,776,000 after acquiring an additional 129,031 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup decreased their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Evercore ISI lowered their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Mizuho raised their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price 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. Finally, Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’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 transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $499.39 on Thursday. The company has a market capitalization of $64.89 billion, a P/E ratio of 22.31, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The business’s 50 day simple moving average is $513.72 and its 200-day simple moving average is $550.56.

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

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.