McKesson Corporation (MCK) : Institutional Capital reduced its stake in McKesson Corporation by 8.24% during the most recent quarter end. The investment management company now holds a total of 2,024,616 shares of McKesson Corporation which is valued at $395,286,028 after selling 181,821 shares in McKesson Corporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.McKesson Corporation makes up approximately 4.60% of Institutional Capital’s portfolio.
Other Hedge Funds, Including , Profund Advisors reduced its stake in MCK by selling 693 shares or 9.0% in the most recent quarter. The Hedge Fund company now holds 7,005 shares of MCK which is valued at $1,367,656. McKesson Corporation makes up approx 0.06% of Profund Advisors’s portfolio.Sandy Spring Bank boosted its stake in MCK in the latest quarter, The investment management firm added 5,557 additional shares and now holds a total of 5,697 shares of McKesson Corporation which is valued at $1,111,485. McKesson Corporation makes up approx 0.12% of Sandy Spring Bank’s portfolio.Evergreen Capital Management reduced its stake in MCK by selling 35 shares or 0.13% in the most recent quarter. The Hedge Fund company now holds 26,134 shares of MCK which is valued at $5,146,307. McKesson Corporation makes up approx 1.10% of Evergreen Capital Management’s portfolio. Old Mutual Global Investors (uk) Ltd. sold out all of its stake in MCK during the most recent quarter. The investment firm sold 29,974 shares of MCK which is valued $5,891,989.Cibc World Markets boosted its stake in MCK in the latest quarter, The investment management firm added 7,934 additional shares and now holds a total of 24,549 shares of McKesson Corporation which is valued at $4,825,597. McKesson Corporation makes up approx 0.02% of Cibc World Markets’s portfolio.
McKesson Corporation opened for trading at $183.16 and hit $184.33 on the upside on Monday, eventually ending the session at $183.9, with a gain of 0.61% or 1.11 points. The heightened volatility saw the trading volume jump to 11,78,858 shares. Company has a market cap of $41,507 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 Aug 11, 2016 to “Neutral”, Firm has raised the Price Target to $ 197 from a previous price target of $174 .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 (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.