Meiji Yasuda Asset Management Co Ltd. acquired a new position in AmerisourceBergen Corp. (NYSE:ABC) in the 2nd quarter, HoldingsChannel reports. The firm acquired 3,171 shares of the company’s stock, valued at approximately $320,000.
Other institutional investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in shares of AmerisourceBergen by 65.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 64,335 shares of the company’s stock worth $6,483,000 after purchasing an additional 25,348 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of AmerisourceBergen by 22.6% in the second quarter. Janney Montgomery Scott LLC now owns 20,261 shares of the company’s stock valued at $2,042,000 after acquiring an additional 3,737 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of AmerisourceBergen by 2.7% in the second quarter. New York State Teachers Retirement System now owns 225,047 shares of the company’s stock valued at $22,678,000 after acquiring an additional 5,886 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of AmerisourceBergen by 5.7% in the second quarter. Envestnet Asset Management Inc. now owns 311,653 shares of the company’s stock valued at $31,405,000 after acquiring an additional 16,899 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. grew its holdings in shares of AmerisourceBergen by 26.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 14,275 shares of the company’s stock valued at $1,438,000 after acquiring an additional 2,988 shares in the last quarter. 64.09% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:ABC traded down $1.14 during trading on Friday, hitting $96.44. 11,401 shares of the company were exchanged, compared to its average volume of 815,446. The company has a market cap of $20.07 billion, a PE ratio of 12.72, a P/E/G ratio of 1.67 and a beta of 0.55. The stock has a 50 day moving average of $101.45 and a 200 day moving average of $93.76. AmerisourceBergen Corp. has a 52-week low of $72.06 and a 52-week high of $106.45. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.98 and a quick ratio of 0.59.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Wednesday, August 5th. The company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.27. The firm had revenue of $45.37 billion for the quarter, compared to the consensus estimate of $44.71 billion. AmerisourceBergen had a return on equity of 46.04% and a net margin of 0.84%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.76 earnings per share. Sell-side analysts forecast that AmerisourceBergen Corp. will post 7.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.42 per share. The ex-dividend date was Friday, August 14th. This represents a $1.68 annualized dividend and a dividend yield of 1.74%. AmerisourceBergen’s dividend payout ratio is currently 23.70%.
In related news, EVP Gina Clark sold 3,098 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $100.47, for a total value of $311,256.06. Following the sale, the executive vice president now owns 16,667 shares in the company, valued at $1,674,533.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert P. Mauch sold 5,262 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $101.72, for a total value of $535,250.64. Following the completion of the sale, the executive vice president now owns 28,091 shares in the company, valued at approximately $2,857,416.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,004 shares of company stock worth $7,630,157. Company insiders own 28.30% of the company’s stock.
Several research firms have recently issued reports on ABC. Morgan Stanley upped their target price on AmerisourceBergen from $112.00 to $121.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Deutsche Bank upped their target price on AmerisourceBergen from $93.00 to $98.00 and gave the company a “hold” rating in a report on Monday, May 11th. ValuEngine raised AmerisourceBergen from a “strong sell” rating to a “sell” rating in a report on Monday, August 3rd. UBS Group upped their target price on AmerisourceBergen from $99.00 to $112.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Credit Suisse Group increased their price objective on AmerisourceBergen from $111.00 to $118.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $105.80.
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: What is insider trading?
Want to see what other hedge funds are holding ABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AmerisourceBergen Corp. (NYSE:ABC).
Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.