Korea Investment CORP Lowers Position in AmerisourceBergen Corporation (Holding Co) (ABC)

Korea Investment CORP reduced its stake in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,355 shares of the company’s stock after selling 9,476 shares during the period. Korea Investment CORP’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $9,014,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Hennessy Advisors Inc. purchased a new stake in AmerisourceBergen Corporation (Holding Co) during the first quarter valued at $2,036,000. Donald L. Hagan LLC increased its stake in AmerisourceBergen Corporation (Holding Co) by 8.5% in the first quarter. Donald L. Hagan LLC now owns 14,499 shares of the company’s stock valued at $1,283,000 after buying an additional 1,132 shares during the last quarter. OMERS ADMINISTRATION Corp increased its stake in AmerisourceBergen Corporation (Holding Co) by 20.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 1,560,620 shares of the company’s stock valued at $138,115,000 after buying an additional 266,670 shares during the last quarter. Sentry Investments Corp. increased its stake in AmerisourceBergen Corporation (Holding Co) by 19.1% in the first quarter. Sentry Investments Corp. now owns 925,400 shares of the company’s stock valued at $81,898,000 after buying an additional 148,400 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in AmerisourceBergen Corporation (Holding Co) during the first quarter valued at $21,817,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Shares of AmerisourceBergen Corporation (NYSE ABC) opened at 79.80 on Thursday. The firm has a market cap of $17.42 billion, a PE ratio of 15.49 and a beta of 0.91. AmerisourceBergen Corporation has a 12-month low of $68.38 and a 12-month high of $97.85. The company has a 50 day moving average price of $91.85 and a 200-day moving average price of $89.29.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.06. The firm had revenue of $38.71 billion for the quarter, compared to analyst estimates of $39.13 billion. AmerisourceBergen Corporation (Holding Co) had a net margin of 0.56% and a return on equity of 56.07%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 earnings per share. Analysts expect that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

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ABC has been the subject of several research reports. Vetr raised AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “strong-buy” rating and set a $97.44 target price for the company in a report on Tuesday, April 18th. Zacks Investment Research downgraded AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “sell” rating in a report on Monday, July 10th. Mizuho upped their price objective on AmerisourceBergen Corporation (Holding Co) from $83.00 to $93.00 and gave the company a “neutral” rating in a research note on Tuesday, May 30th. UBS AG reduced their price objective on AmerisourceBergen Corporation (Holding Co) from $94.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday, August 4th. Finally, BidaskClub raised AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $93.14.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $94.76, for a total value of $1,421,400.00. Following the transaction, the chairman now owns 253,876 shares in the company, valued at $24,057,289.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 27.40% of the company’s stock.

AmerisourceBergen Corporation (Holding Co) Company Profile

AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.

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Institutional Ownership by Quarter for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

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