Hanlon Investment Management adds McKesson Corporation (MCK) to its portfolio

McKesson Corporation (MCK) : Hanlon Investment Management added new position in McKesson Corporation during the most recent quarter end. The investment management firm now holds 26,718 shares of McKesson Corporation which is valued at $5,213,751 , the company said in a statement filed on Aug 2, 2016 with the SEC.McKesson Corporation makes up approximately 0.44% of Hanlon Investment Management’s portfolio.

Other Hedge Funds, Including , Nippon Life Insurance Co reduced its stake in MCK by selling 1,706 shares or 14.2% in the most recent quarter. The Hedge Fund company now holds 10,311 shares of MCK which is valued at $2,012,089. McKesson Corporation makes up approx 0.05% of Nippon Life Insurance Co’s portfolio.California State Teachers Retirement System reduced its stake in MCK by selling 15,281 shares or 3.11% in the most recent quarter. The Hedge Fund company now holds 476,669 shares of MCK which is valued at $93,017,189. McKesson Corporation makes up approx 0.19% of California State Teachers Retirement System’s portfolio.Todd Asset Management reduced its stake in MCK by selling 90,207 shares or 54.39% in the most recent quarter. The Hedge Fund company now holds 75,633 shares of MCK which is valued at $14,759,024. McKesson Corporation makes up approx 0.45% of Todd Asset Management’s portfolio.Gradient Investments boosted its stake in MCK in the latest quarter, The investment management firm added 26 additional shares and now holds a total of 51 shares of McKesson Corporation which is valued at $10,083.Dnb Asset Management As boosted its stake in MCK in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 50,562 shares of McKesson Corporation which is valued at $9,747,848. McKesson Corporation makes up approx 0.20% of Dnb Asset Management As’s portfolio.

McKesson Corporation opened for trading at $194.95 and hit $195.35 on the upside on Monday, eventually ending the session at $195.1, with a gain of 0.23% or 0.44 points. The heightened volatility saw the trading volume jump to 7,68,944 shares. Company has a market cap of $44,034 M.

On the company’s financial health, McKesson Corporation reported $3.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $3.34. The company had revenue of $49733.00 million for the quarter, compared to analysts expectations of $50333.03 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.14 EPS.

Investors should note that on Jul 26, 2016, McKesson Corporation announced a cash dividend of $0.2800. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Oct 3, 2016.

Many Wall Street Analysts have commented on McKesson Corporation. Company shares were Reiterated by Mizuho on Jun 7, 2016 to “Neutral”, Firm has raised the Price Target to $ 174 from a previous price target of $164 .McKesson Corporation was Resumed by BofA/Merrill to “Neutral” on Jun 7, 2016. McKesson Corporation was Downgraded by Avondale to ” Mkt Perform” on May 5, 2016.

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals medical supplies and healthcare information technology. The Company operates through two business segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment and health and beauty care products across North America and internationally. The Distribution Solutions segment provides pharmaceutical solutions for biotech and pharmaceutical manufacturers and practice management technology clinical support and business solutions to oncology and other specialty practices operating in the community setting. The Technology Solutions segment delivers clinical patient care financial supply chain and strategic management software solutions as well as connectivity outsourcing and other services including remote hosting and managed services to healthcare organizations.

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