Asset Dedication LLC Sells 251 Shares of McKesson Co. (NYSE:MCK)

Asset Dedication LLC lessened its stake in McKesson Co. (NYSE:MCK) by 26.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 689 shares of the company’s stock after selling 251 shares during the period. Asset Dedication LLC’s holdings in McKesson were worth $393,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. bought a new stake in McKesson in the third quarter valued at approximately $29,000. Wolff Wiese Magana LLC raised its holdings in McKesson by 742.9% during the 3rd 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 stake in McKesson during the 3rd quarter valued at $31,000. ORG Wealth Partners LLC purchased a new stake in McKesson during the 3rd quarter valued at $40,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of McKesson by 51.9% in the fourth 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 during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

MCK opened at $603.79 on Thursday. The firm has a fifty day moving average price of $592.16 and a 200 day moving average price of $561.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The stock has a market cap of $76.64 billion, a P/E ratio of 31.27, a P/E/G 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. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. Equities analysts expect that McKesson Co. will post 32.73 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MCK shares. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Morgan Stanley boosted their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $646.14.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by company insiders.

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.