Centricity Wealth Management LLC Purchases New Holdings in McKesson Co. (NYSE:MCK)

Centricity Wealth Management LLC purchased a new position in shares of McKesson Co. (NYSE:MCK) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 856 shares of the company’s stock, valued at approximately $488,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in McKesson during the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson in the third quarter valued at approximately $29,000. Crews Bank & Trust acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $33,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter worth approximately $31,000. Finally, Creative Capital Management Investments LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $44,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $603.68 on Friday. The stock has a market capitalization of $75.66 billion, a PE ratio of 27.64, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The business has a fifty day moving average price of $588.60 and a two-hundred day moving average price of $562.48.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio is currently 13.00%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 579 shares of the firm’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 completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,307 shares of company stock worth $6,177,790 over the last three months. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research analyst reports. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $645.79.

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.