Camden National Bank Takes Position in McKesson Co. (NYSE:MCK)

Camden National Bank bought a new position in McKesson Co. (NYSE:MCK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 644 shares of the company’s stock, valued at approximately $318,000.

A number of other hedge funds also recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of McKesson during the first quarter valued at approximately $81,000. 1832 Asset Management L.P. bought a new position in McKesson in the 1st quarter worth $102,000. LRI Investments LLC purchased a new stake in shares of McKesson in the 1st quarter worth about $177,000. Bellevue Group AG boosted its stake in shares of McKesson by 85.4% during the 1st quarter. Bellevue Group AG now owns 8,997 shares of the company’s stock valued at $4,830,000 after purchasing an additional 4,144 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of McKesson by 5.7% during the first quarter. Public Employees Retirement System of Ohio now owns 87,520 shares of the company’s stock valued at $46,985,000 after buying an additional 4,727 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several research reports. Evercore ISI lifted their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company reduced their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, Mizuho lifted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average target price of $631.57.

McKesson Trading Down 0.8 %

McKesson stock opened at $623.19 on Friday. The firm has a market cap of $79.11 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.36 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock has a fifty day simple moving average of $530.98 and a two-hundred day simple moving average of $557.36.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts forecast that McKesson Co. will post 32.78 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by corporate 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.