Mechanics Bank Trust Department Lowers stake in McKesson Corporation (MCK)

McKesson Corporation (MCK) : Mechanics Bank Trust Department reduced its stake in McKesson Corporation by 10.18% during the most recent quarter end. The investment management company now holds a total of 3,529 shares of McKesson Corporation which is valued at $629,044 after selling 400 shares in McKesson Corporation , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.McKesson Corporation makes up approximately 0.24% of Mechanics Bank Trust Department’s portfolio.

McKesson Corporation opened for trading at $177.19 and hit $178.54 on the upside on Wednesday, eventually ending the session at $177.93, with a gain of 0.43% or 0.76 points. The heightened volatility saw the trading volume jump to 11,55,562 shares. Company has a market cap of $40,672 M.

Other Hedge Funds, Including , Thompson Investment Management boosted its stake in MCK in the latest quarter, The investment management firm added 3,125 additional shares and now holds a total of 35,339 shares of McKesson Corporation which is valued at $6,299,177. McKesson Corporation makes up approx 1.30% of Thompson Investment Management’s portfolio.Next Financial Group Inc boosted its stake in MCK in the latest quarter, The investment management firm added 324 additional shares and now holds a total of 754 shares of McKesson Corporation which is valued at $134,401. McKesson Corporation makes up approx 0.05% of Next Financial Group Inc’s portfolio.Bremer Trust National Association boosted its stake in MCK in the latest quarter, The investment management firm added 269 additional shares and now holds a total of 2,395 shares of McKesson Corporation which is valued at $413,784. McKesson Corporation makes up approx 0.12% of Bremer Trust National Association’s portfolio.Eagle Asset Management Inc reduced its stake in MCK by selling 9,852 shares or 35.25% in the most recent quarter. The Hedge Fund company now holds 18,096 shares of MCK which is valued at $2,938,428. McKesson Corporation makes up approx 0.02% of Eagle Asset Management Inc’s portfolio.

On the company’s financial health, McKesson Corporation reported $3.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $3.13. The company had revenue of $47899.00 million for the quarter, compared to analysts expectations of $48791.05 million. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 EPS.

Many Wall Street Analysts have commented on McKesson Corporation. McKesson Corporation was Downgraded by Standpoint Research to ” Hold” on Apr 26, 2016. Avondale Initiated McKesson Corporation on Apr 19, 2016 to “Mkt Outperform”, Price Target of the shares are set at $203.McKesson Corporation was Initiated by Credit Suisse to “Neutral” on Mar 16, 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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