Paragon Private Wealth Management LLC Buys 46 Shares of McKesson Co. (NYSE:MCK)

Paragon Private Wealth Management LLC grew its stake in shares of McKesson Co. (NYSE:MCK) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 717 shares of the company’s stock after purchasing an additional 46 shares during the period. Paragon Private Wealth Management LLC’s holdings in McKesson were worth $409,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Synergy Asset Management LLC bought a new stake in shares of McKesson during the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the 3rd quarter valued at about $29,000. Crews Bank & Trust purchased a new position in McKesson during the 4th quarter valued at about $33,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson during the 3rd quarter valued at about $31,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson during the 4th quarter valued at about $44,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MCK shares. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company upped their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Up 0.5 %

MCK stock opened at $644.92 on Monday. The firm has a 50 day moving average of $600.67 and a 200 day moving average of $567.55. The stock has a market capitalization of $80.82 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $653.92.

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

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,689 shares of company stock worth $11,187,351. Company insiders own 0.11% of the company’s stock.

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.