AmerisourceBergen Co. (NYSE:ABC) CEO Steven H. Collis Sells 20,913 Shares

AmerisourceBergen Co. (NYSE:ABC) CEO Steven H. Collis sold 20,913 shares of AmerisourceBergen stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $117.65, for a total transaction of $2,460,414.45. Following the completion of the transaction, the chief executive officer now directly owns 209,984 shares in the company, valued at $24,704,617.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of ABC stock traded up $3.54 during trading on Thursday, hitting $120.94. 841,555 shares of the company were exchanged, compared to its average volume of 1,163,841. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of -6.55, a price-to-earnings-growth ratio of 1.14 and a beta of 0.54. The business’s 50-day moving average is $118.41. AmerisourceBergen Co. has a twelve month low of $92.00 and a twelve month high of $125.86.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Tuesday, May 4th. The company reported $2.53 EPS for the quarter, topping the consensus estimate of $2.48 by $0.05. The business had revenue of $49.15 billion during the quarter, compared to analysts’ expectations of $50.06 billion. AmerisourceBergen had a negative net margin of 1.91% and a positive return on equity of 277.60%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $2.40 earnings per share. Research analysts predict that AmerisourceBergen Co. will post 9.01 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Monday, May 17th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date was Friday, May 14th. AmerisourceBergen’s dividend payout ratio (DPR) is presently 22.28%.

Separately, Barclays lifted their target price on shares of AmerisourceBergen from $122.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 6th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $122.50.

A number of hedge funds and other institutional investors have recently bought and sold shares of ABC. Regent Peak Wealth Advisors LLC acquired a new stake in AmerisourceBergen in the fourth quarter valued at approximately $32,000. Truvestments Capital LLC acquired a new stake in AmerisourceBergen in the fourth quarter valued at approximately $35,000. KB Financial Partners LLC acquired a new stake in AmerisourceBergen in the first quarter valued at approximately $35,000. Parkside Financial Bank & Trust lifted its stake in AmerisourceBergen by 86.1% in the first quarter. Parkside Financial Bank & Trust now owns 307 shares of the company’s stock valued at $36,000 after acquiring an additional 142 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in AmerisourceBergen in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 64.00% of the company’s stock.

About AmerisourceBergen

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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