Krasney Financial Lowers stake in McKesson Corporation (MCK)

McKesson Corporation (MCK) : Krasney Financial reduced its stake in McKesson Corporation by 13.28% during the most recent quarter end. The investment management company now holds a total of 34,871 shares of McKesson Corporation which is valued at $6,808,214 after selling 5,341 shares in McKesson Corporation , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.McKesson Corporation makes up approximately 1.52% of Krasney Financial’s portfolio.

Other Hedge Funds, Including , Meritage Group Lp boosted its stake in MCK in the latest quarter, The investment management firm added 2,763 additional shares and now holds a total of 1,108,162 shares of McKesson Corporation which is valued at $216,357,549. McKesson Corporation makes up approx 6.55% of Meritage Group Lp’s portfolio.Candriam Luxembourg S.c.a. reduced its stake in MCK by selling 46,527 shares or 86.46% in the most recent quarter. The Hedge Fund company now holds 7,288 shares of MCK which is valued at $1,435,153. McKesson Corporation makes up approx 0.04% of Candriam Luxembourg S.c.a.’s portfolio.Robeco Institutional Asset Management B.v. boosted its stake in MCK in the latest quarter, The investment management firm added 12 additional shares and now holds a total of 18,254 shares of McKesson Corporation which is valued at $3,588,189. McKesson Corporation makes up approx 0.03% of Robeco Institutional Asset Management B.v.’s portfolio.Hartford Investment Management Co reduced its stake in MCK by selling 1,527 shares or 2.62% in the most recent quarter. The Hedge Fund company now holds 56,684 shares of MCK which is valued at $11,142,374. McKesson Corporation makes up approx 0.23% of Hartford Investment Management Co’s portfolio.

McKesson Corporation opened for trading at $183.16 and hit $184.33 on the upside on Monday, eventually ending the session at $183.9, with a gain of 0.61% or 1.11 points. The heightened volatility saw the trading volume jump to 11,78,858 shares. Company has a market cap of $41,507 M.

On the company’s financial health, McKesson Corporation reported $3.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $3.34. The company had revenue of $49733.00 million for the quarter, compared to analysts expectations of $50333.03 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.14 EPS.

Many Wall Street Analysts have commented on McKesson Corporation. Company shares were Reiterated by Mizuho on Aug 11, 2016 to “Neutral”, Firm has raised the Price Target to $ 197 from a previous price target of $174 .Company shares were Reiterated by Mizuho on Jun 7, 2016 to “Neutral”, Firm has raised the Price Target to $ 174 from a previous price target of $164 .McKesson Corporation was Resumed by BofA/Merrill to “Neutral” on Jun 7, 2016.

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals medical supplies and healthcare information technology. The Company operates through two business 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. The Distribution Solutions segment provides pharmaceutical solutions for biotech and pharmaceutical manufacturers and practice management technology clinical support and business solutions to oncology and other specialty practices operating in the community setting. The Technology Solutions segment delivers clinical patient care financial supply chain and strategic management software solutions as well as connectivity outsourcing and other services including remote hosting and managed services to healthcare organizations.

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