AmerisourceBergen Corp. (NYSE:ABC) CEO Steven H. Collis sold 21,350 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $88.33, for a total transaction of $1,885,845.50. Following the completion of the transaction, the chief executive officer now directly owns 287,925 shares in the company, valued at $25,432,415.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
NYSE ABC opened at $88.64 on Friday. AmerisourceBergen Corp. has a 1-year low of $71.90 and a 1-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 firm has a market capitalization of $19.12 billion, a PE ratio of 13.90, a P/E/G ratio of 1.38 and a beta of 1.04.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, August 2nd. The company reported $1.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.08. The firm had revenue of $43.14 billion for the quarter, compared to the consensus estimate of $43.05 billion. AmerisourceBergen had a net margin of 0.69% and a return on equity of 48.65%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 earnings per share. sell-side analysts predict that AmerisourceBergen Corp. will post 6.48 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Monday, August 20th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, August 17th. AmerisourceBergen’s payout ratio is 25.85%.
A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. Morgan Stanley dropped their price target on shares of AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 3rd. Robert W. Baird reaffirmed a “neutral” rating and issued a $94.00 price target on shares of AmerisourceBergen in a research note on Friday, July 20th. Finally, Mizuho reaffirmed a “hold” rating and issued a $90.00 price target on shares of AmerisourceBergen in a research note on Sunday, August 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $101.80.
A number of institutional investors have recently bought and sold shares of ABC. Fort Washington Investment Advisors Inc. OH acquired a new position in AmerisourceBergen during the second quarter worth $99,092,000. Ceredex Value Advisors LLC acquired a new position in AmerisourceBergen during the first quarter worth $80,607,000. Millennium Management LLC increased its position in AmerisourceBergen by 183.5% during the second quarter. Millennium Management LLC now owns 1,145,365 shares of the company’s stock worth $97,665,000 after buying an additional 741,391 shares during the last quarter. Mainstay Capital Management LLC ADV increased its position in AmerisourceBergen by 6,233.3% during the second quarter. Mainstay Capital Management LLC ADV now owns 609,010 shares of the company’s stock worth $7,469,000 after buying an additional 599,394 shares during the last quarter. Finally, BlackRock Inc. increased its position in AmerisourceBergen by 4.6% during the second quarter. BlackRock Inc. now owns 12,776,453 shares of the company’s stock worth $1,089,447,000 after buying an additional 557,312 shares during the last quarter. 66.65% of the stock is currently owned by hedge funds and other institutional investors.
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.
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