Black Diamond Financial LLC Raises Position in McKesson Co. (NYSE:MCK)

Black Diamond Financial LLC lifted its stake in McKesson Co. (NYSE:MCK) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,525 shares of the company’s stock after acquiring an additional 19 shares during the quarter. Black Diamond Financial LLC’s holdings in McKesson were worth $754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MCK. LRI Investments LLC purchased a new stake in McKesson in the 1st quarter worth $28,000. Wolff Wiese Magana LLC lifted its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in McKesson during the 3rd quarter valued at approximately $40,000. Carmichael Hill & Associates Inc. acquired a new stake in McKesson during the 2nd quarter worth about $52,000. Finally, Centennial Bank AR acquired a new position in McKesson during the second quarter valued at $53,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Evercore ISI lifted their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup upped their price objective on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Finally, Leerink Partners lowered 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. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Down 2.3 %

Shares of MCK stock opened at $610.03 on Friday. The stock has a 50 day moving average of $516.06 and a two-hundred day moving average of $553.41. The company has a market capitalization of $77.44 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.35 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the business earned $6.23 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. Sell-side analysts predict that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

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.