Avanza Fonder AB Invests $7.90 Million in McKesson Co. (NYSE:MCK)

Avanza Fonder AB has recently made a significant investment in McKesson Co. (NYSE:MCK), as detailed in their latest filing with the Securities and Exchange Commission (SEC). During the fourth quarter, Avanza Fonder acquired a total of 13,866 shares in McKesson, which is valued at approximately $7,902,000.

Investments by Other Firms

In addition to Avanza Fonder, several other major investors have adjusted their positions in McKesson shares. Distillate Capital Partners LLC dramatically increased its holdings in the company by an astonishing 127,542.9% during the second quarter. They now own 35,740 shares, with a total value of $20,874,000 after an additional purchase of 35,712 shares. Similarly, Chase Investment Counsel Corp also expanded its investment by 50.8%, acquiring 8,985 shares worth $5,247,000, which included an increase of 3,027 shares in the last quarter.

Newbridge Financial Services Group Inc. made an impressive move by raising its holdings by 2,143.1% during the same period, resulting in 1,458 shares valued at $851,000. Additionally, Commerce Bank grew its investment by 2.0% in the third quarter, securing 156,781 shares now valued at $77,516,000 following a 3,020 share increase. Sanctuary Advisors LLC also joined in by investing around $12,331,000 to acquire a new stake in McKesson. Collectively, institutional investors and hedge funds now own approximately 85.07% of McKesson's stock.

McKesson's Stock Overview

As of the latest trading session, McKesson's stock opened at $586.61. The company has a market capitalization of $74.46 billion. Analysts have noted a fifty-day moving average of $595.77 and a two-hundred day moving average of $561.06. The shares have experienced fluctuations with a fifty-two week low of $464.42 and a high of $637.51. The company's price-to-earnings ratio stands at 30.38, with a PEG ratio of 1.26 and a beta of 0.52.

Quarterly Earnings Results

McKesson recently announced its quarterly earnings on November 6. The company reported earnings of $7.07 per share, exceeding analysts' expectations of $6.88 by $0.19. The total revenue for the quarter was $93.65 billion, surpassing the consensus estimate of $89.33 billion, marking a 21.3% increase in year-over-year revenue. During the same quarter the previous year, McKesson earned $6.23 per share. Analysts predict that McKesson will achieve an average earnings of 32.73 per share for the current year.

Dividend Announcement

McKesson also declared a quarterly dividend recently. This dividend was distributed on January 2, following a record date of December 2, where investors received a payment of $0.71. The total annualized dividend amounts to $2.84, resulting in a dividend yield of 0.48%. Presently, McKesson's dividend payout ratio is at 14.71%.

Analyst Ratings and Adjustments

Various analysts have provided insights and ratings on McKesson's stock. Robert W. Baird upgraded the stock from a "neutral" rating to "outperform," increasing its price target from $531.00 to $688.00 recently. Deutsche Bank adjusted its price target downward from $623.00 to $579.00 while maintaining a "buy" rating. Wells Fargo increased their price objective from $535.00 to $641.00. Leerink Partners reduced their target price from $665.00 to $630.00 but retained their good rating for the stock.

As a part of market analysis, two analysts have issued a hold rating, fourteen have provided buy ratings, and one analyst gave a strong buy rating to McKesson's stock. The average rating for the stock is "Moderate Buy" with a consensus target price identified at $646.14.

Insider Trading Activity

In other news regarding McKesson, executive vice president Leann B. Smith sold 579 shares on January 2, at an average price of $572.79. This transaction totaled $331,645.41, leading to a 40.12% decrease in her stock position. Following the sale, she holds 864 shares worth approximately $494,890.56. Such transactions have been disclosed as required by SEC regulations.

Company Profile

McKesson Corporation is a prominent entity that provides healthcare services both in the United States and internationally. The company structures its operations into four main segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment specializes in distributing a variety of pharmaceutical products including branded, generic, and specialty drugs.

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