Peddock Capital Advisors buys $1,560,248 stake in McKesson Corporation (MCK)

McKesson Corporation (MCK) : Peddock Capital Advisors scooped up 47 additional shares in McKesson Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 15, 2016. The investment management firm now holds a total of 7,892 shares of McKesson Corporation which is valued at $1,560,248.McKesson Corporation makes up approximately 0.98% of Peddock Capital Advisors’s portfolio.

Other Hedge Funds, Including , Arcadia Investment Management Corpmi boosted its stake in MCK in the latest quarter, The investment management firm added 77 additional shares and now holds a total of 212 shares of McKesson Corporation which is valued at $41,912. McKesson Corporation makes up approx 0.01% of Arcadia Investment Management Corpmi’s portfolio.Cue Financial Group reduced its stake in MCK by selling 180 shares or 2.06% in the most recent quarter. The Hedge Fund company now holds 8,546 shares of MCK which is valued at $1,687,066. McKesson Corporation makes up approx 1.41% of Cue Financial Group’s portfolio.

McKesson Corporation opened for trading at $197.3 and hit $197.93 on the upside on Monday, eventually ending the session at $197.7, with a gain of 0.28% or 0.56 points. The heightened volatility saw the trading volume jump to 8,14,661 shares. Company has a market cap of $44,487 M.

On the company’s financial health, McKesson Corporation reported $2.44 EPS for the quarter, missing the analyst consensus estimate by $ -0.70 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $3.14. The company had revenue of $46678.00 million for the quarter, compared to analysts expectations of $46810.61 million. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.94 EPS.

Many Wall Street Analysts have commented on McKesson Corporation. 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 was Downgraded by Avondale to ” Mkt Perform” on May 5, 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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