Endurant Capital Management LP Reduces Stake in McKesson Corporation (NYSE:MCK)

Endurant Capital Management LP cut its stake in McKesson Corporation (NYSE:MCK) by 72.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 12,055 shares of the company’s stock after selling 31,217 shares during the period. Endurant Capital Management LP’s holdings in McKesson Corporation were worth $1,787,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of MCK. Regent Investment Management LLC boosted its stake in McKesson Corporation by 60.2% in the first quarter. Regent Investment Management LLC now owns 21,435 shares of the company’s stock valued at $3,178,000 after buying an additional 8,055 shares in the last quarter. Pax World Management LLC boosted its stake in McKesson Corporation by 6.4% in the first quarter. Pax World Management LLC now owns 1,662 shares of the company’s stock valued at $246,000 after buying an additional 100 shares in the last quarter. Loews Corp purchased a new stake in McKesson Corporation during the first quarter valued at about $253,000. Highbridge Capital Management LLC boosted its stake in McKesson Corporation by 25.7% in the fourth quarter. Highbridge Capital Management LLC now owns 99,465 shares of the company’s stock valued at $13,969,000 after buying an additional 20,309 shares in the last quarter. Finally, Becker Capital Management Inc. boosted its stake in McKesson Corporation by 40.8% in the fourth quarter. Becker Capital Management Inc. now owns 260,670 shares of the company’s stock valued at $36,611,000 after buying an additional 75,544 shares in the last quarter. Institutional investors and hedge funds own 89.04% of the company’s stock.

Shares of McKesson Corporation (NYSE:MCK) traded down 0.99% during midday trading on Wednesday, hitting $159.66. 2,077,806 shares of the stock were exchanged. The firm has a 50 day moving average of $164.64 and a 200-day moving average of $151.68. The stock has a market cap of $33.57 billion, a P/E ratio of 7.24 and a beta of 1.13. McKesson Corporation has a 12 month low of $114.53 and a 12 month high of $197.08.

McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the Zacks’ consensus estimate of $2.81 by $0.35. The company had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.50 earnings per share. Equities research analysts anticipate that McKesson Corporation will post $12.11 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a $0.34 dividend. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is currently 5.00%.

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MCK has been the topic of several recent analyst reports. Jefferies Group LLC initiated coverage on shares of McKesson Corporation in a research note on Wednesday, May 17th. They issued a “hold” rating and a $153.00 target price on the stock. Vetr upgraded shares of McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price objective on the stock in a research report on Monday, June 19th. Zacks Investment Research cut shares of McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. J P Morgan Chase & Co upgraded shares of McKesson Corporation from a “neutral” rating to an “overweight” rating and set a $189.00 price objective on the stock in a research report on Tuesday, May 23rd. Finally, Barclays PLC restated an “overweight” rating and set a $174.00 price objective on shares of McKesson Corporation in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $171.21.

In other news, Director Marie L/Ca Knowles sold 1,083 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $162.55, for a total transaction of $176,041.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman John H. Hammergren sold 38,619 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $163.76, for a total transaction of $6,324,247.44. Following the sale, the chairman now directly owns 19,309 shares in the company, valued at approximately $3,162,041.84. The disclosure for this sale can be found here. Insiders sold a total of 60,231 shares of company stock worth $9,830,297 over the last 90 days. Company insiders own 1.20% of the company’s stock.

McKesson Corporation Company Profile

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.