Conning Inc. cut its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 2.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 4,930 shares of the company’s stock after selling 130 shares during the period. Conning Inc.’s holdings in AmerisourceBergen Corp. were worth $391,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Wexford Capital LP purchased a new position in AmerisourceBergen Corp. during the first quarter valued at approximately $440,000. ING Groep NV boosted its position in AmerisourceBergen Corp. by 225.6% in the first quarter. ING Groep NV now owns 13,159 shares of the company’s stock valued at $1,139,000 after buying an additional 9,117 shares during the period. Burgundy Asset Management Ltd. boosted its position in AmerisourceBergen Corp. by 46.0% in the first quarter. Burgundy Asset Management Ltd. now owns 2,217,275 shares of the company’s stock valued at $191,905,000 after buying an additional 698,428 shares during the period. William Harris Investors Inc. boosted its position in AmerisourceBergen Corp. by 75.0% in the first quarter. William Harris Investors Inc. now owns 127,662 shares of the company’s stock valued at $11,049,000 after buying an additional 54,724 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new position in AmerisourceBergen Corp. during the first quarter valued at approximately $924,000. 66.19% of the stock is owned by hedge funds and other institutional investors.
AmerisourceBergen Corp. (NYSE:ABC) traded down 0.82% on Monday, hitting $80.12. The stock had a trading volume of 1,563,127 shares. The company’s 50 day moving average is $85.60 and its 200-day moving average is $83.20. AmerisourceBergen Corp. has a 1-year low of $73.31 and a 1-year high of $105.81. The firm has a market capitalization of $17.20 billion, a price-to-earnings ratio of 10.81 and a beta of 0.75.
AmerisourceBergen Corp. (NYSE:ABC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.10. AmerisourceBergen Corp. had a net margin of 1.14% and a return on equity of 83.93%. The company earned $36.90 billion during the quarter, compared to the consensus estimate of $36.57 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts forecast that AmerisourceBergen Corp. will post $5.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were given a $0.34 dividend. The ex-dividend date was Thursday, August 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.70%. AmerisourceBergen Corp.’s payout ratio is 18.73%.
Several equities analysts have commented on the company. Leerink Swann reaffirmed a “buy” rating on shares of AmerisourceBergen Corp. in a report on Wednesday, August 3rd. Deutsche Bank AG upped their price target on AmerisourceBergen Corp. from $83.00 to $96.00 and gave the company a “hold” rating in a report on Wednesday, August 3rd. Barclays PLC upped their price target on AmerisourceBergen Corp. from $83.00 to $89.00 and gave the company an “equal weight” rating in a report on Wednesday, August 3rd. Citigroup Inc. upped their price objective on AmerisourceBergen Corp. from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, FBR & Co upped their price objective on AmerisourceBergen Corp. from $84.00 to $90.00 and gave the company a “mkt perform” rating in a research note on Wednesday, August 3rd. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $97.50.
In other AmerisourceBergen Corp. news, Director Henry Wadsworth Mcgee III sold 3,351 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $82.10, for a total transaction of $275,117.10. Following the completion of the transaction, the director now directly owns 10,901 shares in the company, valued at $894,972.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lon R. Greenberg acquired 4,000 shares of the stock in a transaction on Tuesday, August 9th. The shares were purchased at an average price of $88.59 per share, with a total value of $354,360.00. Following the completion of the transaction, the director now owns 9,500 shares of the company’s stock, valued at $841,605. The disclosure for this purchase can be found here. Company insiders own 6.90% of the company’s stock.
AmerisourceBergen Corp. Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers.
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