Swiss National Bank lifted its position in AmerisourceBergen Corp. (NYSE:ABC) by 21.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 599,484 shares of the company’s stock after purchasing an additional 106,700 shares during the period. Swiss National Bank owned 0.29% of AmerisourceBergen worth $53,054,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ABC. Lenox Wealth Management Inc. lifted its holdings in AmerisourceBergen by 1.5% during the fourth quarter. Lenox Wealth Management Inc. now owns 8,771 shares of the company’s stock worth $746,000 after buying an additional 128 shares during the period. NEXT Financial Group Inc lifted its holdings in AmerisourceBergen by 95.4% during the fourth quarter. NEXT Financial Group Inc now owns 299 shares of the company’s stock worth $25,000 after buying an additional 146 shares during the period. CSat Investment Advisory L.P. increased its position in shares of AmerisourceBergen by 25.0% during the fourth quarter. CSat Investment Advisory L.P. now owns 789 shares of the company’s stock worth $67,000 after purchasing an additional 158 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of AmerisourceBergen by 60.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 432 shares of the company’s stock worth $37,000 after purchasing an additional 162 shares in the last quarter. Finally, Summit X LLC increased its position in shares of AmerisourceBergen by 3.7% during the fourth quarter. Summit X LLC now owns 4,711 shares of the company’s stock worth $400,000 after purchasing an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 65.57% of the company’s stock.
NYSE ABC opened at $93.14 on Friday. The stock’s fifty day moving average price is $87.42 and its 200 day moving average price is $87.52. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.74 and a beta of 0.60. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.97 and a quick ratio of 0.63. AmerisourceBergen Corp. has a 1 year low of $72.06 and a 1 year high of $97.50.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, May 7th. The company reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.13. The company had revenue of $47.42 billion for the quarter, compared to the consensus estimate of $45.90 billion. AmerisourceBergen had a return on equity of 48.85% and a net margin of 0.85%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $2.11 EPS. Research analysts expect that AmerisourceBergen Corp. will post 7.45 earnings per share for the current year.
In related news, Director Dermot Mark Durcan purchased 1,350 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were bought at an average cost of $74.33 per share, with a total value of $100,345.50. Following the transaction, the director now owns 6,717 shares of the company’s stock, valued at $499,274.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $84.75, for a total transaction of $1,686,948.75. Following the sale, the chief executive officer now directly owns 162,027 shares in the company, valued at $13,731,788.25. The disclosure for this sale can be found here. Insiders have sold a total of 38,791 shares of company stock worth $3,385,449 over the last ninety days. 28.30% of the stock is owned by insiders.
A number of equities analysts have recently issued reports on ABC shares. JPMorgan Chase & Co. raised AmerisourceBergen from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $93.00 to $106.00 in a research report on Wednesday, April 1st. Robert W. Baird raised AmerisourceBergen from a “neutral” rating to an “outperform” rating and set a $112.00 price target on the stock in a research report on Friday, February 7th. UBS Group reduced their price target on AmerisourceBergen from $108.00 to $99.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Zacks Investment Research downgraded AmerisourceBergen from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a research report on Wednesday, April 1st. Finally, Credit Suisse Group assumed coverage on AmerisourceBergen in a research report on Wednesday, April 22nd. They set a “buy” rating and a $105.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $101.89.
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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