Pictet Asset Management Holding SA Sells 11,053 Shares of McKesson Co. (NYSE:MCK)

Pictet Asset Management Holding SA decreased its position in McKesson Co. (NYSE:MCK) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,286 shares of the company’s stock after selling 11,053 shares during the period. Pictet Asset Management Holding SA owned about 0.07% of McKesson worth $53,165,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Cibc World Market Inc. increased its holdings in McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after acquiring an additional 1,207 shares during the last quarter. West Oak Capital LLC increased its stake in shares of McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 2,690 shares in the last quarter. Brentview Investment Management LLC purchased a new stake in shares of McKesson during the 4th quarter valued at approximately $3,018,000. Ingalls & Snyder LLC boosted its holdings in McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after buying an additional 1,047 shares during the period. Finally, Nordea Investment Management AB grew its stake in McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent research reports. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Morgan Stanley boosted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Citigroup lowered 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. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value 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. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Up 0.4 %

MCK opened at $668.25 on Friday. The stock has a market capitalization of $83.75 billion, a P/E ratio of 30.60, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $672.00. The stock has a 50-day moving average price of $623.58 and a 200-day moving average price of $579.34.

McKesson (NYSE:MCK) last posted its quarterly earnings results 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, equities research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 0.42%. McKesson’s payout ratio is 13.00%.

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.