McKesson Co. (NYSE:MCK) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. reduced its holdings in McKesson Co. (NYSE:MCK) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 18,142 shares of the company’s stock after selling 583 shares during the quarter. Foster & Motley Inc.’s holdings in McKesson were worth $10,339,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its holdings in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC purchased a new position in McKesson in the 3rd quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after buying an additional 28 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on MCK shares. 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. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company raised their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Evercore ISI increased their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.1 %

Shares of MCK opened at $603.79 on Thursday. The company’s 50-day moving average price is $592.16 and its 200 day moving average price 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 P/E ratio of 31.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the business posted $6.23 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

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.