Financial Synergies Wealth Advisors Inc. Acquires New Holdings in McKesson Co. (NYSE:MCK)

Financial Synergies Wealth Advisors Inc. purchased a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 360 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds also recently made changes to their positions in the business. Synergy Asset Management LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the third quarter valued at about $29,000. Crews Bank & Trust acquired a new stake in McKesson in the fourth quarter worth about $33,000. Wolff Wiese Magana LLC increased its stake 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 period. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter worth about $31,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Finally, Morgan Stanley lifted 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. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $645.79.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following 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 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 company insiders.

McKesson Trading Down 1.3 %

Shares of MCK stock opened at $598.85 on Friday. The stock’s fifty day simple moving average is $589.61 and its 200-day simple moving average is $562.56. The company has a market capitalization of $76.02 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. On average, sell-side analysts predict that McKesson Co. will post 32.72 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) 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.