Assenagon Asset Management S.A. Buys 100,093 Shares of McKesson Co. (NYSE:MCK)

Assenagon Asset Management S.A. grew its stake in shares of McKesson Co. (NYSE:MCK) by 66.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 251,333 shares of the company’s stock after buying an additional 100,093 shares during the period. Assenagon Asset Management S.A. owned approximately 0.20% of McKesson worth $143,237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MCK. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the third quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the 3rd quarter valued at $31,000. ORG Wealth Partners LLC bought a new stake in shares of McKesson in the 3rd quarter valued at $40,000. Finally, Bruce G. Allen Investments LLC raised its stake in McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after buying an additional 28 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

NYSE:MCK opened at $594.11 on Wednesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a market cap of $75.42 billion, a P/E ratio of 30.77, a P/E/G ratio of 1.25 and a beta of 0.52. The stock’s 50-day simple moving average is $595.09 and its 200 day simple moving average is $560.90.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.23 EPS. As a group, equities analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

Insider Activity

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

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.