Cue Financial Group Lowers stake in McKesson Corporation (MCK)

McKesson Corporation (MCK) : Cue Financial Group reduced its stake in McKesson Corporation by 2.06% during the most recent quarter end. The investment management company now holds a total of 8,546 shares of McKesson Corporation which is valued at $1,687,066 after selling 180 shares in McKesson Corporation , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.McKesson Corporation makes up approximately 1.41% of Cue Financial Group’s portfolio.

Other Hedge Funds, Including , Chicago Trust Co Na reduced its stake in MCK by selling 265 shares or 5.3% in the most recent quarter. The Hedge Fund company now holds 4,733 shares of MCK which is valued at $912,475. McKesson Corporation makes up approx 0.39% of Chicago Trust Co Na’s portfolio.Centurylink Investment Management Co reduced its stake in MCK by selling 2,884 shares or 84.2% in the most recent quarter. The Hedge Fund company now holds 541 shares of MCK which is valued at $104,299. McKesson Corporation makes up approx 0.04% of Centurylink Investment Management Co’s portfolio.

McKesson Corporation closed down -0.89 points or -0.45% at $197.14 with 9,33,408 shares getting traded on Friday. Post opening the session at $198.68, the shares hit an intraday low of $196.22 and an intraday high of $199.05 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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. 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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