Hi Line Capital Management LLC increased its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 52,630 shares of the company’s stock after buying an additional 298 shares during the period. AmerisourceBergen accounts for approximately 2.1% of Hi Line Capital Management LLC’s holdings, making the stock its 22nd biggest position. Hi Line Capital Management LLC’s holdings in AmerisourceBergen were worth $4,487,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Marshall Wace North America L.P. raised its holdings 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 valued at $72,163,000 after purchasing an additional 690,823 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in AmerisourceBergen by 1,584.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 490,101 shares of the company’s stock valued at $41,786,000 after purchasing an additional 461,002 shares in the last quarter. Ceredex Value Advisors LLC raised its stake in AmerisourceBergen by 23.9% in the first quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock valued at $169,787,000 after purchasing an additional 411,607 shares in the last quarter. Northern Trust Corp raised its stake in AmerisourceBergen by 14.4% in the first quarter. Northern Trust Corp now owns 2,433,611 shares of the company’s stock valued at $193,521,000 after purchasing an additional 306,161 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its stake in AmerisourceBergen by 19.0% in the first quarter. Thompson Siegel & Walmsley LLC now owns 922,944 shares of the company’s stock valued at $73,392,000 after purchasing an additional 147,372 shares in the last quarter. 66.10% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on the company. Morgan Stanley lowered 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. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Argus lowered their target price on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank assumed coverage on AmerisourceBergen in a research note on Thursday. They set a “hold” rating and a $91.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. AmerisourceBergen currently has a consensus rating of “Hold” and a consensus target price of $87.38.
In other AmerisourceBergen news, EVP John G. Chou sold 13,997 shares of the 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 transaction, the executive vice president now directly owns 65,782 shares in the company, valued at approximately $5,676,328.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven H. Collis sold 107,826 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total value of $9,292,444.68. Following the transaction, the chairman now owns 242,405 shares in the company, valued at $20,890,462.90. The disclosure for this sale can be found here. Insiders sold 186,215 shares of company stock worth $16,240,235 over the last quarter. 27.80% of the stock is currently owned by company insiders.
Shares of ABC stock opened at $84.81 on Friday. The business’s 50 day simple moving average is $86.21 and its 200 day simple moving average is $82.00. AmerisourceBergen Corp. has a one year low of $69.36 and a one year high of $94.85. The stock has a market capitalization of $18.05 billion, a PE ratio of 13.07, a PEG ratio of 1.54 and a beta of 1.00. 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 (NYSE:ABC) last announced its earnings results on Thursday, August 1st. The company reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.14. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The business had revenue of $45.24 billion for the quarter, compared to analysts’ expectations of $45.15 billion. During the same period in the prior year, the business posted $1.54 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, research analysts expect that AmerisourceBergen Corp. will post 7.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.89%. The ex-dividend date was Friday, August 16th. AmerisourceBergen’s payout ratio is presently 24.65%.
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.
Further Reading: Fundamental Analysis
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