New York State Teachers Retirement System Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

New York State Teachers Retirement System reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,160 shares of the company’s stock after selling 3,927 shares during the quarter. New York State Teachers Retirement System owned 0.09% of McKesson worth $58,915,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MCK. LRI Investments LLC purchased a new position in shares of McKesson in the first quarter valued at $28,000. Wolff Wiese Magana LLC boosted its stake in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of McKesson in the third quarter valued at $40,000. Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson in the second quarter valued at $52,000. Finally, ZRC Wealth Management LLC purchased a new position in shares of McKesson in the first quarter valued at $48,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on MCK shares. Evercore ISI decreased their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Wells Fargo & Company cut their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 price target (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $610.86.

McKesson Stock Up 0.0 %

MCK stock opened at $499.39 on Thursday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The firm’s 50-day simple moving average is $513.72 and its 200 day simple moving average is $550.56. The stock has a market cap of $64.89 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter last year, the company earned $7.27 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts forecast that McKesson Co. will post 31.91 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.