Newbridge Financial Services Group Inc. Raises Position in McKesson Co. (NYSE:MCK)

Newbridge Financial Services Group Inc. lifted its position in McKesson Co. (NYSE:MCK) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 673 shares of the company’s stock after acquiring an additional 53 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in McKesson were worth $383,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MCK. Old North State Trust LLC increased its stake in McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after buying an additional 18 shares during the last quarter. Trust Co. of Vermont lifted its holdings in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the period. Black Diamond Financial LLC boosted its position in McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after purchasing an additional 19 shares during the last quarter. QV Investors Inc. grew its stake in McKesson by 0.6% in the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock valued at $1,730,000 after purchasing an additional 20 shares during the period. Finally, Calamos Wealth Management LLC grew its position in McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after buying an additional 20 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent research reports. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Evercore ISI upped their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America dropped their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has an average rating of “Buy” and an average price target of $645.79.

McKesson Stock Performance

MCK stock opened at $595.77 on Monday. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The company has a market capitalization of $75.63 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The company’s 50 day moving average price is $588.40 and its two-hundred day moving average price is $562.74.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts predict that McKesson Co. will post 32.69 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s payout ratio is 13.00%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

About McKesson

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.