ORG Wealth Partners LLC Invests $40,000 in McKesson Co. (NYSE:MCK)

ORG Wealth Partners LLC purchased a new stake in McKesson Co. (NYSE:MCK) during the third quarter, according to its most recent disclosure with the SEC. The firm purchased 80 shares of the company’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors have 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 approximately $28,000. Register Financial Advisors LLC acquired a new position in McKesson in the 1st quarter valued at $29,000. Richardson Financial Services Inc. purchased a new position in McKesson in the 4th quarter valued at $31,000. Rise Advisors LLC acquired a new stake in McKesson during the 1st quarter worth $40,000. Finally, ZRC Wealth Management LLC purchased a new stake in shares of McKesson during the first quarter worth $48,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Leerink Partners decreased their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Bank of America upped their price target on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. boosted their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Price Performance

NYSE MCK opened at $513.55 on Wednesday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock has a market capitalization of $66.73 billion, a P/E ratio of 22.95, a PEG ratio of 1.17 and a beta of 0.44. The firm’s 50-day moving average is $524.64 and its two-hundred day moving average is $552.71.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same period in the prior year, the business posted $7.27 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, analysts anticipate that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.55%. McKesson’s dividend payout ratio is presently 12.69%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

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.