Mizuho Securities USA LLC Buys 73,149 Shares of McKesson Co. (NYSE:MCK)

16 Nov 2024, 10:06 by Renee Jackson · The Cerbat Gem

Mizuho Securities USA LLC grew its stake in McKesson Co. (NYSE:MCK – Free Report) by 730.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,170 shares of the company’s stock after acquiring an additional 73,149 shares during the quarter. Mizuho Securities USA LLC owned 0.06% of McKesson worth $41,121,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Birchcreek Wealth Management LLC raised its holdings in McKesson by 11.1% in the third quarter. Birchcreek Wealth Management LLC now owns 490 shares of the company’s stock worth $242,000 after purchasing an additional 49 shares during the period. Empowered Funds LLC raised its stake in McKesson by 166.7% during the 3rd quarter. Empowered Funds LLC now owns 35,745 shares of the company’s stock worth $17,673,000 after buying an additional 22,342 shares during the period. Empirical Finance LLC lifted its holdings in McKesson by 1.6% during the third quarter. Empirical Finance LLC now owns 4,778 shares of the company’s stock worth $2,362,000 after acquiring an additional 73 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its stake in McKesson by 4.2% in the third quarter. Signature Estate & Investment Advisors LLC now owns 102,570 shares of the company’s stock valued at $50,712,000 after acquiring an additional 4,131 shares during the period. Finally, Black Diamond Financial LLC raised its position in shares of McKesson by 1.3% during the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after purchasing an additional 19 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of NYSE MCK opened at $606.29 on Friday. The stock has a market capitalization of $76.96 billion, a PE ratio of 31.40, a P/E/G ratio of 1.35 and a beta of 0.44. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The business has a fifty day moving average price of $520.01 and a two-hundred day moving average price of $554.29.

McKesson (NYSE:MCK – Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.23 EPS. On average, equities analysts expect that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated 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 sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Barclays lifted their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Leerink Partners lowered 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. Two investment 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

Check Out Our Latest Research Report on McKesson

About McKesson

(Free Report)

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.