Assenagon Asset Management S.A. Has $74.78 Million Holdings in McKesson Co. (NYSE:MCK)

Assenagon Asset Management S.A. raised its position in shares of McKesson Co. (NYSE:MCK) by 581.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,240 shares of the company’s stock after buying an additional 129,031 shares during the period. Assenagon Asset Management S.A. owned about 0.12% of McKesson worth $74,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MCK. RFP Financial Group LLC raised its position in McKesson by 9.8% in the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after purchasing an additional 17 shares during the last quarter. Modera Wealth Management LLC raised its holdings in shares of McKesson by 2.2% in the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after buying an additional 17 shares during the last quarter. Larson Financial Group LLC lifted its position in McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after buying an additional 17 shares in the last quarter. First Western Trust Bank grew its holdings in McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after acquiring an additional 18 shares during the last quarter. Finally, KCM Investment Advisors LLC raised its stake in shares of McKesson by 1.4% in the first quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after acquiring an additional 19 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts have recently commented on MCK shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Mizuho boosted their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Robert W. Baird reissued a “neutral” rating and set a $531.00 price objective (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Barclays lifted their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Evercore ISI lowered their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $610.86.

McKesson Price Performance

Shares of McKesson stock traded up $7.00 on Thursday, hitting $508.76. The company had a trading volume of 282,426 shares, compared to its average volume of 802,397. The stock has a 50-day moving average of $518.29 and a 200-day moving average of $551.37. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The firm has a market capitalization of $66.11 billion, a P/E ratio of 22.42, a P/E/G ratio of 1.17 and a beta of 0.44.

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

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were given a $0.71 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is 12.69%.

McKesson Company 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.