United Asset Strategies Inc. Acquires 466 Shares of McKesson Co. (NYSE:MCK)

United Asset Strategies Inc. raised its holdings in shares of McKesson Co. (NYSE:MCK) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,254 shares of the company’s stock after acquiring an additional 466 shares during the quarter. United Asset Strategies Inc.’s holdings in McKesson were worth $8,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC bought a new stake in McKesson during the first quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in McKesson in the third quarter worth $40,000. ZRC Wealth Management LLC purchased a new stake in McKesson during the 1st quarter valued at about $48,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in McKesson in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research analyst reports. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Wells Fargo & Company decreased their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Leerink Partners reduced their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $531.00 price objective (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $610.86.

McKesson Price Performance

McKesson stock traded up $8.19 during mid-day trading on Thursday, reaching $507.53. 185,855 shares of the company traded hands, compared to its average volume of 798,927. The company has a market capitalization of $65.95 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The firm’s fifty day moving average is $513.72 and its two-hundred day moving average is $550.56. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period last year, the business posted $7.27 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that McKesson Co. will post 31.91 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.56%. McKesson’s dividend payout ratio is currently 12.69%.

McKesson 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.