AmerisourceBergen Corp. (ABC) Short Interest Up 25.6% in September
AmerisourceBergen Corp. (NYSE:ABC) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 20,383,143 shares, a growth of 25.6% from the September 15th total of 16,224,802 shares. Based on an average daily trading volume, of 2,186,728 shares, the short-interest ratio is presently 9.3 days. Currently, 11.3% of the shares of the company are short sold.
Several analysts have issued reports on the company. Leerink Swann upped their price objective on AmerisourceBergen Corp. to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 26th. Morgan Stanley restated a “hold” rating and issued a $89.00 price objective on shares of AmerisourceBergen Corp. in a research note on Monday, September 12th. Zacks Investment Research lowered AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. 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, Evercore ISI restated a “hold” rating and issued a $93.50 price objective on shares of AmerisourceBergen Corp. in a research note on Tuesday, August 2nd. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. AmerisourceBergen Corp. presently has a consensus rating of “Hold” and a consensus target price of $96.61.
Shares of AmerisourceBergen Corp. (NYSE:ABC) opened at 79.79 on Monday. The firm has a 50 day moving average price of $83.39 and a 200-day moving average price of $82.83. The firm has a market cap of $17.13 billion, a P/E ratio of 10.76 and a beta of 0.74. AmerisourceBergen Corp. has a one year low of $73.31 and a one year high of $105.81.
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AmerisourceBergen Corp. (NYSE:ABC) last announced its earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.10. AmerisourceBergen Corp. had a return on equity of 83.93% and a net margin of 1.14%. The firm had revenue of $36.90 billion for the quarter, compared to the consensus estimate of $36.57 billion. During the same quarter in the previous year, the business earned $1.20 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Analysts forecast that AmerisourceBergen Corp. will post $5.55 earnings per share for the current year.
In other AmerisourceBergen Corp. news, insider Gina Clark sold 2,247 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $89.50, for a total value of $201,106.50. Following the sale, the insider now owns 9,436 shares in the company, valued at $844,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Chou sold 63,750 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $85.70, for a total value of $5,463,375.00. Following the completion of the sale, the insider now owns 104,043 shares in the company, valued at approximately $8,916,485.10. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its position in AmerisourceBergen Corp. by 8.3% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the company’s stock valued at $103,000 after buying an additional 100 shares during the last quarter. IFP Advisors Inc increased its position in AmerisourceBergen Corp. by 12.0% in the second quarter. IFP Advisors Inc now owns 1,374 shares of the company’s stock valued at $109,000 after buying an additional 147 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in AmerisourceBergen Corp. during the second quarter valued at approximately $119,000. Kanaly Trust Co increased its position 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. Finally, Ifrah Financial Services Inc. increased its position in AmerisourceBergen Corp. by 4.0% in the second quarter. Ifrah Financial Services Inc. now owns 2,526 shares of the company’s stock valued at $200,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 66.19% 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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