Tokio Marine Asset Management Co. Ltd. held its position in AmerisourceBergen Corp. (NYSE:ABC) during the second quarter, Holdings Channel reports. The fund owned 5,868 shares of the company’s stock at the end of the second quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in AmerisourceBergen Corp. were worth $465,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new position in shares of AmerisourceBergen Corp. during the first quarter worth approximately $104,000. Kanaly Trust Co boosted its position in shares of AmerisourceBergen Corp. by 52.7% in the second quarter. Kanaly Trust Co now owns 1,920 shares of the company’s stock worth $152,000 after buying an additional 663 shares in the last quarter. Breton Hill Capital Ltd. bought a new position in shares of AmerisourceBergen Corp. during the second quarter worth approximately $206,000. HL Financial Services LLC boosted its position in shares of AmerisourceBergen Corp. by 1.2% in the second quarter. HL Financial Services LLC now owns 2,949 shares of the company’s stock worth $234,000 after buying an additional 34 shares in the last quarter. Finally, Brookstone Capital Management bought a new position in shares of AmerisourceBergen Corp. during the second quarter worth approximately $255,000. 66.19% of the stock is currently owned by hedge funds and other institutional investors.
AmerisourceBergen Corp. (NYSE:ABC) traded down 0.94% on Friday, reaching $79.39. The company had a trading volume of 1,837,066 shares. The firm has a market capitalization of $17.05 billion, a P/E ratio of 10.71 and a beta of 0.74. AmerisourceBergen Corp. has a 1-year low of $73.31 and a 1-year high of $105.81. The company’s 50-day moving average price is $84.55 and its 200 day moving average price is $83.05.
AmerisourceBergen Corp. (NYSE:ABC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate 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 had revenue of $36.90 billion for the quarter, compared to analyst estimates of $36.57 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that AmerisourceBergen Corp. will post $5.55 EPS for the current year.
ABC has been the topic of a number of recent analyst reports. Avondale Partners raised AmerisourceBergen Corp. from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 4th. Credit Suisse Group AG reissued a “buy” rating and set a $98.00 price target on shares of AmerisourceBergen Corp. in a report on Friday, August 26th. Zacks Investment Research cut AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Leerink Swann raised their price target on AmerisourceBergen Corp. to $100.00 and gave the company an “outperform” rating in a report on Friday, August 26th. Finally, FBR & Co raised their price target on AmerisourceBergen Corp. from $84.00 to $90.00 and gave the company a “mkt perform” rating in a report on Wednesday, August 3rd. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $96.61.
In other AmerisourceBergen Corp. news, Director Henry Wadsworth Mcgee III sold 3,351 shares of the company’s stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $82.10, for a total value of $275,117.10. Following the completion of the transaction, the director now owns 10,901 shares in the company, valued at $894,972.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lon R. Greenberg acquired 4,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was purchased at an average price of $88.59 per share, with a total value of $354,360.00. Following the transaction, the director now owns 9,500 shares of the company’s stock, valued at approximately $841,605. The disclosure for this purchase can be found here. 6.90% of the stock is currently owned by company insiders.
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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