Winmill & CO. Inc. bought a new position in shares of AmerisourceBergen Corp. (NYSE:ABC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 26,750 shares of the company’s stock, valued at approximately $2,202,000.
Several other hedge funds and other institutional investors have also modified their holdings of ABC. Vanguard Group Inc. boosted its stake in shares of AmerisourceBergen by 16.8% during the 2nd quarter. Vanguard Group Inc. now owns 18,910,594 shares of the company’s stock worth $1,612,318,000 after acquiring an additional 2,719,868 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in shares of AmerisourceBergen by 493.2% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 757,887 shares of the company’s stock worth $64,617,000 after acquiring an additional 630,123 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of AmerisourceBergen by 1,584.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 490,101 shares of the company’s stock worth $41,786,000 after acquiring an additional 461,002 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of AmerisourceBergen by 111.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 738,360 shares of the company’s stock worth $62,953,000 after acquiring an additional 389,252 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of AmerisourceBergen by 9.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,769,023 shares of the company’s stock worth $236,087,000 after acquiring an additional 245,394 shares during the period. Institutional investors own 65.99% of the company’s stock.
ABC has been the subject of several research analyst reports. Morgan Stanley reduced their target price on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, September 6th. Deutsche Bank initiated coverage on AmerisourceBergen in a research note on Thursday, September 12th. They set a “hold” rating and a $91.00 target price for the company. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Finally, TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $87.38.
NYSE:ABC traded up $1.61 during mid-day trading on Tuesday, hitting $83.19. 28,383 shares of the stock were exchanged, compared to its average volume of 1,128,754. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.37 and a beta of 1.00. The firm’s 50-day simple moving average is $83.18 and its 200 day simple moving average is $82.38. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.95. AmerisourceBergen Corp. has a fifty-two week low of $69.36 and a fifty-two week high of $94.85.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.14. The business had revenue of $45.24 billion during the quarter, compared to analysts’ expectations of $45.15 billion. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.54 EPS. On average, analysts predict that AmerisourceBergen Corp. will post 7.05 EPS for the current fiscal year.
In related news, EVP John G. Chou sold 13,997 shares of AmerisourceBergen stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $86.29, for a total transaction of $1,207,801.13. Following the completion of the sale, the executive vice president now directly owns 65,782 shares of the company’s stock, valued at approximately $5,676,328.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Steven H. Collis sold 19,905 shares of AmerisourceBergen stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.58, for a total value of $1,783,089.90. Following the sale, the chief executive officer now directly owns 154,484 shares of the company’s stock, valued at $13,838,676.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,506 shares of company stock valued at $9,412,050. 27.80% of the stock is currently owned by insiders.
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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