Hanson & Doremus Investment Management Sells 213 Shares of McKesson Co. (NYSE:MCK)

Hanson & Doremus Investment Management trimmed its position in shares of McKesson Co. (NYSE:MCK) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,547 shares of the company’s stock after selling 213 shares during the period. Hanson & Doremus Investment Management’s holdings in McKesson were worth $2,021,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MCK. Newbridge Financial Services Group Inc. increased its stake in McKesson by 2,143.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after acquiring an additional 1,393 shares during the last quarter. Commerce Bank increased its stake in shares of McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of McKesson during the 2nd quarter worth $12,331,000. West Oak Capital LLC lifted its position in shares of McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after buying an additional 2,690 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 0.1 %

MCK stock opened at $603.79 on Thursday. The company’s fifty day simple moving average is $592.16 and its 200 day simple moving average is $561.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The firm has a market cap of $76.64 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 1.26 and a beta of 0.52.

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

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on 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 approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on MCK. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI upped their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

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.