D Orazio & Associates Inc. Sells 33 Shares of McKesson Co. (NYSE:MCK)

D Orazio & Associates Inc. trimmed its holdings in McKesson Co. (NYSE:MCK) by 3.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 992 shares of the company’s stock after selling 33 shares during the quarter. D Orazio & Associates Inc.’s holdings in McKesson were worth $490,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Swedbank AB bought a new stake in McKesson during the 1st quarter worth about $669,326,000. International Assets Investment Management LLC raised its holdings in McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after purchasing an additional 734,849 shares during the last quarter. Bessemer Group Inc. raised its holdings in McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after purchasing an additional 340,007 shares during the last quarter. Bristol Gate Capital Partners Inc. bought a new stake in McKesson during the 1st quarter worth about $97,510,000. Finally, Assenagon Asset Management S.A. raised its holdings in McKesson by 581.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after purchasing an additional 129,031 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Mizuho boosted their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. 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 stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $625.64.

McKesson Price Performance

Shares of MCK traded up $7.86 during mid-day trading on Wednesday, hitting $625.52. 124,121 shares of the company’s stock were exchanged, compared to its average volume of 821,967. The company has a market cap of $79.40 billion, a PE ratio of 32.30, a P/E/G ratio of 1.33 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The company has a 50-day simple moving average of $515.00 and a 200 day simple moving average of $552.91.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping 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 quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the business earned $6.23 EPS. On average, analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is presently 14.71%.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by insiders.

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.