Alberta Investment Management Corp trimmed its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 63.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,665 shares of the company’s stock after selling 133,900 shares during the period. Alberta Investment Management Corp’s holdings in AmerisourceBergen were worth $6,873,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Citizens Financial Group Inc RI boosted its holdings in shares of AmerisourceBergen by 244.1% in the first quarter. Citizens Financial Group Inc RI now owns 5,699 shares of the company’s stock worth $505,000 after acquiring an additional 4,043 shares during the period. ETRADE Capital Management LLC bought a new position in shares of AmerisourceBergen in the first quarter worth $590,000. Summitry LLC boosted its holdings in shares of AmerisourceBergen by 3.9% in the first quarter. Summitry LLC now owns 24,947 shares of the company’s stock worth $2,208,000 after acquiring an additional 940 shares during the period. Swiss National Bank boosted its holdings in shares of AmerisourceBergen by 21.7% in the first quarter. Swiss National Bank now owns 599,484 shares of the company’s stock worth $53,054,000 after acquiring an additional 106,700 shares during the period. Finally, Aigen Investment Management LP boosted its holdings in shares of AmerisourceBergen by 2,461.4% in the first quarter. Aigen Investment Management LP now owns 16,982 shares of the company’s stock worth $1,503,000 after acquiring an additional 16,319 shares during the period. 65.57% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Steven H. Collis sold 19,905 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $84.75, for a total value of $1,686,948.75. Following the completion of the transaction, the chief executive officer now owns 162,027 shares of the company’s stock, valued at approximately $13,731,788.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dermot Mark Durcan bought 1,350 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average cost of $74.33 per share, with a total value of $100,345.50. Following the acquisition, the director now directly owns 6,717 shares in the company, valued at approximately $499,274.61. The disclosure for this purchase can be found here. Insiders sold a total of 38,791 shares of company stock valued at $3,385,449 in the last ninety days. 28.30% of the stock is currently owned by insiders.
A number of brokerages recently issued reports on ABC. UBS Group lowered their price objective 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 cut AmerisourceBergen from a “buy” rating to a “hold” rating and set a $93.00 price objective on the stock. in a research report on Wednesday, April 1st. Morgan Stanley boosted their price objective on shares of AmerisourceBergen from $84.00 to $94.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. JPMorgan Chase & Co. upgraded shares of AmerisourceBergen from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $93.00 to $106.00 in a research note on Wednesday, April 1st. Finally, Robert W. Baird upgraded shares of AmerisourceBergen from a “neutral” rating to an “outperform” rating and set a $112.00 target price for the company in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $101.89.
Shares of ABC stock opened at $92.25 on Friday. AmerisourceBergen Corp. has a 1 year low of $72.06 and a 1 year high of $97.50. The firm has a fifty day moving average price of $87.35 and a 200-day moving average price of $87.48. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.97 and a quick ratio of 0.63. The company has a market cap of $18.86 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.74 and a beta of 0.60.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, May 7th. The company reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.13. The firm had revenue of $47.42 billion during the quarter, compared to the consensus estimate of $45.90 billion. AmerisourceBergen had a net margin of 0.85% and a return on equity of 48.85%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.11 EPS. Equities research analysts expect that AmerisourceBergen Corp. will post 7.45 EPS for the current year.
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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