Suncoast Equity Management buys $13,437,198 stake in McKesson Corporation (MCK)

McKesson Corporation (MCK) : Suncoast Equity Management scooped up 12,994 additional shares in McKesson Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 68,824 shares of McKesson Corporation which is valued at $13,437,198.McKesson Corporation makes up approximately 4.06% of Suncoast Equity Management’s portfolio.

Other Hedge Funds, Including , Public Sector Pension Investment Board boosted its stake in MCK in the latest quarter, The investment management firm added 5,500 additional shares and now holds a total of 42,593 shares of McKesson Corporation which is valued at $8,315,857. McKesson Corporation makes up approx 0.10% of Public Sector Pension Investment Board’s portfolio.Prudential Plc boosted its stake in MCK in the latest quarter, The investment management firm added 1,630 additional shares and now holds a total of 2,900 shares of McKesson Corporation which is valued at $566,196.Bank Of Hawaii boosted its stake in MCK in the latest quarter, The investment management firm added 530 additional shares and now holds a total of 6,066 shares of McKesson Corporation which is valued at $1,183,719. McKesson Corporation makes up approx 0.13% of Bank Of Hawaii’s portfolio. Princeton Capital Management Inc added MCK to its portfolio by purchasing 1,200 company shares during the most recent quarter which is valued at $236,304. McKesson Corporation makes up approx 0.15% of Princeton Capital Management Inc’s portfolio. Wealthtrust-arizona added MCK to its portfolio by purchasing 241 company shares during the most recent quarter which is valued at $47,373. McKesson Corporation makes up approx 0.03% of Wealthtrust-arizona’s portfolio.

McKesson Corporation closed down -0.9 points or -0.46% at $192.75 with 10,48,484 shares getting traded on Tuesday. Post opening the session at $194.22, the shares hit an intraday low of $192.68 and an intraday high of $194.66 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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