McKesson Corporation (MCK) : Suncoast Equity Management reduced its stake in McKesson Corporation by 32.93% during the most recent quarter end. The investment management company now holds a total of 55,830 shares of McKesson Corporation which is valued at $9.3 Million after selling 27,409 shares in McKesson Corporation , the firm said in a disclosure report filed with the SEC on May 12, 2016.McKesson Corporation makes up approximately 3.54% of Suncoast Equity Management’s portfolio.
Other Hedge Funds, Including , Amf Pensionsforsakring Ab sold out all of its stake in MCK during the most recent quarter. The investment firm sold 22,000 shares of MCK which is valued $3.7 Million.Keybank National Associationoh reduced its stake in MCK by selling 3,352 shares or 1.14% in the most recent quarter. The Hedge Fund company now holds 290,229 shares of MCK which is valued at $48.2 Million. McKesson Corporation makes up approx 0.32% of Keybank National Associationoh’s portfolio.Dubuque Bank Trust Co boosted its stake in MCK in the latest quarter, The investment management firm added 5,669 additional shares and now holds a total of 18,905 shares of McKesson Corporation which is valued at $3.2 Million. McKesson Corporation makes up approx 0.61% of Dubuque Bank Trust Co’s portfolio. Princeton Capital Management Inc sold out all of its stake in MCK during the most recent quarter. The investment firm sold 1,200 shares of MCK which is valued $201,384.
McKesson Corporation opened for trading at $181.79 and hit $182.88 on the upside on Friday, eventually ending the session at $182.29, with a gain of 0.73% or 1.33 points. The heightened volatility saw the trading volume jump to 25,30,986 shares. Company has a market cap of $41,019 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.