Geneos Wealth Management Inc. Increases Holdings in McKesson Co. (NYSE:MCK)

Geneos Wealth Management Inc. grew its holdings in McKesson Co. (NYSE:MCK) by 5.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,144 shares of the company’s stock after acquiring an additional 61 shares during the quarter. Geneos Wealth Management Inc.’s holdings in McKesson were worth $652,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the third quarter valued at approximately $29,000. Wolff Wiese Magana LLC grew its position in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the third quarter valued at $31,000. ORG Wealth Partners LLC acquired a new position in McKesson in the third quarter valued at $40,000. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Evercore ISI upped their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Stock Performance

McKesson stock opened at $602.94 on Wednesday. The company has a market cap of $76.54 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The business has a fifty day moving average of $592.41 and a two-hundred day moving average of $561.33.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the firm earned $6.23 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. Sell-side analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio is presently 14.71%.

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.