Opal Wealth Advisors LLC Has $570,000 Position in McKesson Co. (NYSE:MCK)

Opal Wealth Advisors LLC raised its holdings in McKesson Co. (NYSE:MCK) by 4.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,000 shares of the company’s stock after acquiring an additional 40 shares during the quarter. Opal Wealth Advisors LLC’s holdings in McKesson were worth $570,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Wolff Wiese Magana LLC lifted 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 worth $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson during the third quarter valued at about $31,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson in the fourth quarter valued at about $32,000. Finally, Crews Bank & Trust bought a new position in shares of McKesson in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on MCK. Morgan Stanley raised their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company raised their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Finally, Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $645.79.

McKesson Price Performance

Shares of MCK stock opened at $595.77 on Monday. The stock’s fifty day simple moving average is $588.40 and its 200 day simple moving average is $562.74. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The firm has a market cap of $75.63 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its 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 anticipate that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

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.