Geneos Wealth Management Inc. Acquires 84 Shares of McKesson Co. (NYSE:MCK)

Geneos Wealth Management Inc. increased its stake in shares of McKesson Co. (NYSE:MCK) by 16.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 597 shares of the company’s stock after acquiring an additional 84 shares during the period. Geneos Wealth Management Inc.’s holdings in McKesson were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Signaturefd LLC grew its holdings in McKesson by 7.2% during the first quarter. Signaturefd LLC now owns 4,099 shares of the company’s stock worth $2,200,000 after purchasing an additional 277 shares during the period. Catalina Capital Group LLC bought a new position in McKesson in the first quarter valued at approximately $308,000. Mediolanum International Funds Ltd acquired a new position in shares of McKesson during the 1st quarter worth $12,034,000. Larson Financial Group LLC lifted its holdings in shares of McKesson by 206.8% in the first quarter. Larson Financial Group LLC now owns 1,077 shares of the company’s stock worth $578,000 after acquiring an additional 726 shares during the last quarter. Finally, Wellington Shields Capital Management LLC boosted its position in McKesson by 11.7% in the first quarter. Wellington Shields Capital Management LLC now owns 7,561 shares of the company’s stock valued at $4,059,000 after buying an additional 791 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of MCK opened at $575.27 on Friday. The business has a 50-day moving average of $574.91 and a 200 day moving average of $533.02. McKesson Co. has a fifty-two week low of $395.30 and a fifty-two week high of $612.17. The firm has a market cap of $74.75 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter last year, the firm earned $7.19 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, research analysts predict that McKesson Co. will post 31.53 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s dividend payout ratio is currently 11.08%.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent research reports. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 2nd. Robert W. Baird raised their price target on shares of McKesson from $679.00 to $694.00 and gave the stock an “outperform” rating in a report on Tuesday. Argus increased their target price on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Wells Fargo & Company increased their price objective on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $596.00.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at approximately $51,607,866.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now owns 89,845 shares in the company, valued at approximately $51,607,866.45. The disclosure for this sale can be found here. Insiders sold a total of 29,567 shares of company stock valued at $16,691,841 over the last 90 days. Insiders own 0.11% of the company’s stock.

McKesson 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.