Foster Victor Wealth Advisors LLC raised its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 49.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,555 shares of the company’s stock after buying an additional 3,150 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in AmerisourceBergen were worth $782,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of ABC. Vanguard Group Inc. lifted its stake in AmerisourceBergen by 16.8% during the second quarter. Vanguard Group Inc. now owns 18,910,594 shares of the company’s stock valued at $1,612,318,000 after buying an additional 2,719,868 shares in the last quarter. Marshall Wace North America L.P. lifted its position in shares of AmerisourceBergen by 318.9% in the first quarter. Marshall Wace North America L.P. now owns 907,474 shares of the company’s stock worth $72,163,000 after purchasing an additional 690,823 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of AmerisourceBergen by 493.2% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 757,887 shares of the company’s stock worth $64,617,000 after purchasing an additional 630,123 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of AmerisourceBergen by 1,584.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 490,101 shares of the company’s stock worth $41,786,000 after purchasing an additional 461,002 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of AmerisourceBergen by 111.5% in the second quarter. Nuveen Asset Management LLC now owns 738,360 shares of the company’s stock worth $62,953,000 after purchasing an additional 389,252 shares in the last quarter. 65.95% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on ABC shares. TheStreet raised shares of AmerisourceBergen from a “c+” rating to a “b” rating in a research report on Thursday, August 1st. ValuEngine lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Deutsche Bank started coverage on shares of AmerisourceBergen in a research report on Thursday, September 12th. They issued a “hold” rating and a $91.00 price target for the company. Finally, Morgan Stanley reduced their price target on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $87.38.
ABC traded up $1.50 during midday trading on Friday, hitting $82.32. 50,012 shares of the company’s stock traded hands, compared to its average volume of 1,181,139. The company has a market cap of $16.85 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The stock’s fifty day simple moving average is $83.43 and its 200-day simple moving average is $82.30. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.56. AmerisourceBergen Corp. has a one year low of $69.36 and a one year high of $94.85.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.14. The firm had revenue of $45.24 billion for the quarter, compared to analyst estimates of $45.15 billion. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.54 earnings per share. On average, research analysts expect that AmerisourceBergen Corp. will post 7.05 EPS for the current year.
In related news, CEO Steven H. Collis sold 19,905 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $89.58, for a total transaction of $1,783,089.90. Following the transaction, the chief executive officer now owns 154,484 shares of the company’s stock, valued at $13,838,676.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John G. Chou sold 13,997 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $86.29, for a total transaction of $1,207,801.13. Following the transaction, the executive vice president now directly owns 65,782 shares in the company, valued at approximately $5,676,328.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,506 shares of company stock worth $9,412,050. Insiders own 27.80% of the company’s stock.
AmerisourceBergen Company Profile
AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
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