Sector Gamma As Lowers stake in McKesson Corporation (MCK)

McKesson Corporation (MCK) : Sector Gamma As reduced its stake in McKesson Corporation by 10.85% during the most recent quarter end. The investment management company now holds a total of 79,020 shares of McKesson Corporation which is valued at $15,427,865 after selling 9,620 shares in McKesson Corporation , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.McKesson Corporation makes up approximately 2.95% of Sector Gamma As’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Investment Management boosted its stake in MCK in the latest quarter, The investment management firm added 147,492 additional shares and now holds a total of 1,389,709 shares of McKesson Corporation which is valued at $271,326,785. McKesson Corporation makes up approx 0.20% of Tiaa Cref Investment Management’s portfolio.First Trust Advisors Lp reduced its stake in MCK by selling 106,237 shares or 72.64% in the most recent quarter. The Hedge Fund company now holds 40,012 shares of MCK which is valued at $7,788,736. McKesson Corporation makes up approx 0.02% of First Trust Advisors Lp’s portfolio.Diam Ltd. reduced its stake in MCK by selling 4,497 shares or 10.9% in the most recent quarter. The Hedge Fund company now holds 36,772 shares of MCK which is valued at $7,175,688. McKesson Corporation makes up approx 0.10% of Diam Ltd.’s portfolio.State Of New Jersey Common Pension Fund D reduced its stake in MCK by selling 30,000 shares or 6.82% in the most recent quarter. The Hedge Fund company now holds 410,000 shares of MCK which is valued at $80,007,400. McKesson Corporation makes up approx 0.35% of State Of New Jersey Common Pension Fund D’s portfolio.First Citizens Bank Trust Co reduced its stake in MCK by selling 13,447 shares or 78.63% in the most recent quarter. The Hedge Fund company now holds 3,654 shares of MCK which is valued at $710,922. McKesson Corporation makes up approx 0.06% of First Citizens Bank Trust Co’s portfolio.

McKesson Corporation closed down -0.9 points or -0.46% at $192.75 with 10,48,484 shares getting traded on Tuesday. Post opening the session at $194.22, the shares hit an intraday low of $192.68 and an intraday high of $194.66 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

Investors should note that on Jul 26, 2016, McKesson Corporation announced a cash dividend of $0.2800. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Oct 3, 2016.

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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