Warren Buffett Loaded Up on These 5 Stocks for the Rest of 2022

In this article, we discuss the 5 stocks that Warren Buffett loaded up on for the rest of 2022. If you want to see more stocks in this selection, click Warren Buffett Loaded Up on These 10 Stocks for the Rest of 2022. 

5. McKesson Corporation (NYSE:MCK)

Number of Hedge Fund Holders: 59

McKesson Corporation (NYSE:MCK) provides healthcare services in the United States and internationally, operating through four segments – U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions. Berkshire Hathaway invested in McKesson Corporation (NYSE:MCK) in Q1 2022, and in the June quarter, the hedge fund boosted its stake by 10%, holding a position worth over $1 billion. 

Deutsche Bank analyst George Hill on August 8 raised the price target on McKesson Corporation (NYSE:MCK) to $409 from $378 and kept a Buy rating on the shares. The company posted robust fiscal Q1 results, with an “impressive beat powered” both by performance in its primary business and an ongoing contribution from COVID therapies and supplies, the analyst told investors. 

According to Insider Monkey’s Q1 data, 59 hedge funds were bullish on McKesson Corporation (NYSE:MCK), up from 57 funds in the earlier quarter. Richard S. Pzena’s Pzena Investment Management is a significant shareholder of the company, with 2.70 million shares worth $827.3 million. 

Here is what Baron Health Care Fund has to say about McKesson Corporation (NYSE:MCK) in its Q2 2022 investor letter:

“McKesson Corporation is a leading distributor of pharmaceuticals and medical supplies. The company contributed to performance due to solid financial results and investor rotation into stocks trading at lower valuation multiples of earnings. We continue to believe the stock is inexpensive in light of McKesson’s strong competitive position in growing end-markets and earnings growth potential.”