Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in AmerisourceBergen Corp. (NYSE:ABC) in the second quarter, HoldingsChannel reports. The fund bought 17,027 shares of the company’s stock, valued at approximately $1,452,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Beutel Goodman & Co Ltd. grew its position in shares of AmerisourceBergen by 16.7% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 2,287,719 shares of the company’s stock valued at $148,412,000 after buying an additional 327,552 shares during the last quarter. Coho Partners Ltd. grew its position in shares of AmerisourceBergen by 2.7% in the 2nd quarter. Coho Partners Ltd. now owns 1,662,237 shares of the company’s stock valued at $141,739,000 after buying an additional 43,846 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of AmerisourceBergen in the 2nd quarter valued at about $99,092,000. Morningstar Investment Services LLC grew its position in shares of AmerisourceBergen by 9.7% in the 1st quarter. Morningstar Investment Services LLC now owns 935,724 shares of the company’s stock valued at $80,669,000 after buying an additional 82,593 shares during the last quarter. Finally, Ceredex Value Advisors LLC bought a new stake in shares of AmerisourceBergen in the 1st quarter valued at about $80,607,000. 66.68% of the stock is owned by institutional investors and hedge funds.
In related news, EVP John G. Chou sold 6,974 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $83.94, for a total transaction of $585,397.56. Following the transaction, the executive vice president now directly owns 56,126 shares of the company’s stock, valued at approximately $4,711,216.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert P. Mauch sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The stock was sold at an average price of $90.00, for a total value of $90,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,656 shares of company stock worth $9,132,116. 27.30% of the stock is owned by company insiders.
Shares of AmerisourceBergen stock opened at $87.72 on Monday. AmerisourceBergen Corp. has a one year low of $71.90 and a one year high of $106.27. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.51 and a current ratio of 0.94. The stock has a market cap of $17.74 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 1.28 and a beta of 1.00.
AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, August 2nd. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.46 by $0.08. AmerisourceBergen had a return on equity of 48.65% and a net margin of 0.69%. The company had revenue of $43.14 billion for the quarter, compared to analyst estimates of $43.05 billion. During the same quarter in the prior year, the company earned $1.43 EPS. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. equities research analysts expect that AmerisourceBergen Corp. will post 6.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Monday, August 20th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Friday, August 17th. AmerisourceBergen’s dividend payout ratio (DPR) is currently 25.85%.
Several equities research analysts recently commented on the company. ValuEngine upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Saturday, June 16th. Morgan Stanley cut their target price on AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 3rd. Robert W. Baird restated a “neutral” rating and set a $94.00 target price on shares of AmerisourceBergen in a research report on Friday, July 20th. Finally, Mizuho restated a “hold” rating and set a $90.00 target price on shares of AmerisourceBergen in a research report on Sunday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. AmerisourceBergen presently has an average rating of “Hold” and a consensus price target of $101.80.
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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