McKesson Co. (NYSE:MCK) Stock Position Cut by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in McKesson Co. (NYSE:MCK) by 3.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 119,160 shares of the company’s stock after selling 3,927 shares during the period. New York State Teachers Retirement System’s holdings in McKesson were worth $58,915,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. Trajan Wealth LLC boosted its position in shares of McKesson by 19.5% during the 3rd quarter. Trajan Wealth LLC now owns 12,248 shares of the company’s stock valued at $6,056,000 after purchasing an additional 1,999 shares in the last quarter. Mutual Advisors LLC boosted its position in shares of McKesson by 12.6% during the 3rd quarter. Mutual Advisors LLC now owns 3,032 shares of the company’s stock valued at $1,531,000 after purchasing an additional 340 shares in the last quarter. WD Rutherford LLC boosted its position in shares of McKesson by 43.2% during the 3rd quarter. WD Rutherford LLC now owns 5,384 shares of the company’s stock valued at $2,662,000 after purchasing an additional 1,624 shares in the last quarter. Deltec Asset Management LLC bought a new position in shares of McKesson during the 3rd quarter valued at about $742,000. Finally, Fidelis Capital Partners LLC boosted its position in shares of McKesson by 86.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 3,179 shares of the company’s stock valued at $1,595,000 after purchasing an additional 1,472 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $499.39 on Thursday. The company has a 50 day simple moving average of $513.72 and a 200-day simple moving average of $550.56. The firm has a market capitalization of $64.89 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $7.27 earnings per share. On average, analysts predict that McKesson Co. will post 31.91 EPS for the current year.

Analyst Ratings Changes

MCK has been the subject of several research reports. Mizuho raised their price objective 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. Wells Fargo & Company reduced their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Citigroup reduced their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Finally, StockNews.com lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

McKesson 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.