Institutional Capital buys $366,114,091 stake in McKesson Corporation (MCK)

McKesson Corporation (MCK) : Institutional Capital scooped up 191,103 additional shares in McKesson Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 10, 2016. The investment management firm now holds a total of 2,206,437 shares of McKesson Corporation which is valued at $366,114,091.McKesson Corporation makes up approximately 3.91% of Institutional Capital’s portfolio.

Other Hedge Funds, Including , Blackrock Investment Management reduced its stake in MCK by selling 332,011 shares or 31.77% in the most recent quarter. The Hedge Fund company now holds 712,910 shares of MCK which is valued at $118,293,156. McKesson Corporation makes up approx 0.16% of Blackrock Investment Management’s portfolio.Ftb Advisors boosted its stake in MCK in the latest quarter, The investment management firm added 4,356 additional shares and now holds a total of 28,329 shares of McKesson Corporation which is valued at $4,700,631. McKesson Corporation makes up approx 0.53% of Ftb Advisors’s portfolio. Achievement Holdings added MCK to its portfolio by purchasing 2,500 company shares during the most recent quarter which is valued at $419,550. McKesson Corporation makes up approx 0.05% of Achievement Holdings’s portfolio.

McKesson Corporation opened for trading at $169.01 and hit $173.49 on the upside on Monday, eventually ending the session at $172.53, with a gain of 3.98% or 6.6 points. The heightened volatility saw the trading volume jump to 22,24,396 shares. Company has a market cap of $38,823 M.

On the company’s financial health, McKesson Corporation reported $2.44 EPS for the quarter, missing the analyst consensus estimate by $ -0.70 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $3.14. The company had revenue of $46678.00 million for the quarter, compared to analysts expectations of $46810.61 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.94 EPS.

Many Wall Street Analysts have commented on McKesson Corporation. McKesson Corporation was Downgraded by Avondale to ” Mkt Perform” on May 5, 2016. 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 (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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