UNIVEST FINANCIAL Corp lessened its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 4.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,202 shares of the company’s stock after selling 1,745 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in AmerisourceBergen were worth $2,768,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Lenox Wealth Management Inc. grew its holdings in AmerisourceBergen by 2.0% during the 4th quarter. Lenox Wealth Management Inc. now owns 8,379 shares of the company’s stock valued at $623,000 after buying an additional 163 shares in the last quarter. Strategic Wealth Partners Ltd. grew its holdings in shares of AmerisourceBergen by 5.4% during the third quarter. Strategic Wealth Partners Ltd. now owns 3,201 shares of the company’s stock worth $295,000 after purchasing an additional 164 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in shares of AmerisourceBergen by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 3,509 shares of the company’s stock worth $261,000 after purchasing an additional 216 shares in the last quarter. OLD Second National Bank of Aurora grew its holdings in shares of AmerisourceBergen by 1.0% during the fourth quarter. OLD Second National Bank of Aurora now owns 24,774 shares of the company’s stock worth $1,843,000 after purchasing an additional 238 shares in the last quarter. Finally, Private Capital Group LLC grew its holdings in shares of AmerisourceBergen by 201.3% during the fourth quarter. Private Capital Group LLC now owns 482 shares of the company’s stock worth $36,000 after purchasing an additional 322 shares in the last quarter. 65.91% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on ABC. Barclays reissued a “hold” rating and set a $84.00 price objective on shares of AmerisourceBergen in a report on Sunday, January 6th. ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Zacks Investment Research raised AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Thursday, November 22nd. Morgan Stanley boosted their price objective on AmerisourceBergen from $88.00 to $91.00 and gave the stock an “equal weight” rating in a report on Monday, December 3rd. Finally, Royal Bank of Canada cut their price objective on AmerisourceBergen from $90.00 to $87.00 and set a “hold” rating for the company in a report on Friday, November 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. AmerisourceBergen has a consensus rating of “Hold” and an average price target of $99.00.
Shares of ABC opened at $79.66 on Monday. The company has a market capitalization of $16.88 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.35 and a beta of 1.08. The company has a quick ratio of 0.50, a current ratio of 0.93 and a debt-to-equity ratio of 1.48. AmerisourceBergen Corp. has a 1 year low of $69.36 and a 1 year high of $106.27.
AmerisourceBergen (NYSE:ABC) last issued its earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.01. The business had revenue of $43.30 billion during the quarter, compared to analyst estimates of $43.27 billion. AmerisourceBergen had a return on equity of 45.54% and a net margin of 0.99%. AmerisourceBergen’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 earnings per share. Sell-side analysts anticipate that AmerisourceBergen Corp. will post 6.77 earnings per share for the current fiscal year.
In other AmerisourceBergen news, Chairman Steven H. Collis sold 21,350 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $90.92, for a total value of $1,941,142.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Chou sold 6,974 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $88.51, for a total value of $617,268.74. Following the completion of the sale, the insider now directly owns 58,426 shares of the company’s stock, valued at approximately $5,171,285.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,449 shares of company stock valued at $11,818,704. 27.80% of the stock is owned by insiders.
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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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