Emerald Advisers Inc. PA increased its stake in AmerisourceBergen Corp. (NYSE:ABC) by 279.0% during the second quarter, Holdings Channel reports. The fund owned 46,730 shares of the company’s stock after buying an additional 34,400 shares during the period. Emerald Advisers Inc. PA’s holdings in AmerisourceBergen Corp. were worth $3,707,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new stake in AmerisourceBergen Corp. during the first quarter valued at $104,000. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in AmerisourceBergen Corp. during the second quarter valued at $119,000. Kanaly Trust Co increased its stake in AmerisourceBergen Corp. by 52.7% in the second quarter. Kanaly Trust Co now owns 1,920 shares of the company’s stock valued at $152,000 after buying an additional 663 shares during the last quarter. Breton Hill Capital Ltd. bought a new stake in AmerisourceBergen Corp. during the second quarter valued at $206,000. Finally, HL Financial Services LLC increased its stake in AmerisourceBergen Corp. by 1.2% in the second quarter. HL Financial Services LLC now owns 2,949 shares of the company’s stock valued at $234,000 after buying an additional 34 shares during the last quarter. 66.19% of the stock is owned by institutional investors and hedge funds.
Shares of AmerisourceBergen Corp. (NYSE:ABC) traded down 0.94% during trading on Friday, hitting $79.39. The stock had a trading volume of 1,837,066 shares. The company has a market capitalization of $17.05 billion, a price-to-earnings ratio of 10.71 and a beta of 0.74. The firm has a 50 day moving average of $84.55 and a 200 day moving average of $83.05. AmerisourceBergen Corp. has a 1-year low of $73.31 and a 1-year high of $105.81.
AmerisourceBergen Corp. (NYSE:ABC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.10. The business had revenue of $36.90 billion for the quarter, compared to analysts’ expectations of $36.57 billion. AmerisourceBergen Corp. had a return on equity of 83.93% and a net margin of 1.14%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. Analysts expect that AmerisourceBergen Corp. will post $5.55 EPS for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Leerink Swann upped their price objective on shares of AmerisourceBergen Corp. to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 26th. Morgan Stanley reiterated a “hold” rating and issued a $89.00 price target on shares of AmerisourceBergen Corp. in a research report on Monday, September 12th. Zacks Investment Research cut shares of AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Citigroup Inc. boosted their price target on shares of AmerisourceBergen Corp. from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, Evercore ISI reiterated a “hold” rating and issued a $93.50 price target on shares of AmerisourceBergen Corp. in a research report on Tuesday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. AmerisourceBergen Corp. currently has an average rating of “Hold” and a consensus target price of $96.61.
In other AmerisourceBergen Corp. news, Director Henry Wadsworth Mcgee III sold 3,351 shares of the firm’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $82.10, for a total transaction of $275,117.10. Following the transaction, the director now owns 10,901 shares in the company, valued at $894,972.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gina Clark sold 2,247 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $89.50, for a total value of $201,106.50. Following the transaction, the insider now owns 9,436 shares in the company, valued at approximately $844,522. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.
About AmerisourceBergen Corp.
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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