AmerisourceBergen Corp. (ABC) Director Richard W. Gochnauer Sells 2,000 Shares
AmerisourceBergen Corp. (NYSE:ABC) Director Richard W. Gochnauer sold 2,000 shares of AmerisourceBergen stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $88.00, for a total value of $176,000.00. Following the sale, the director now directly owns 12,947 shares of the company’s stock, valued at $1,139,336. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of AmerisourceBergen Corp. (NYSE:ABC) traded up $0.66 during mid-day trading on Wednesday, reaching $88.48. The company had a trading volume of 1,390,706 shares, compared to its average volume of 1,790,927. The firm has a market cap of $18,922.97, a PE ratio of 14.73, a PEG ratio of 1.50 and a beta of 1.00. AmerisourceBergen Corp. has a 1 year low of $71.90 and a 1 year high of $97.85. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The firm had revenue of $39.12 billion for the quarter, compared to analysts’ expectations of $40.10 billion. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 EPS. equities research analysts predict that AmerisourceBergen Corp. will post 6.07 earnings per share for the current year.
A number of analysts have issued reports on the company. Cowen set a $107.00 price target on AmerisourceBergen and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird set a $99.00 target price on AmerisourceBergen and gave the stock a “buy” rating in a research report on Friday, December 1st. Jefferies Group set a $85.00 target price on AmerisourceBergen and gave the stock a “hold” rating in a research report on Sunday, October 29th. Needham & Company LLC lifted their target price on AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Finally, Royal Bank of Canada started coverage on AmerisourceBergen in a research report on Tuesday, September 19th. They set a “sector perform” rating and a $87.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $93.20.
A number of hedge funds have recently modified their holdings of ABC. Parallel Advisors LLC increased its position in AmerisourceBergen by 3.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after acquiring an additional 34 shares during the period. Sun Life Financial INC increased its position in AmerisourceBergen by 15,000.0% in the 2nd quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock valued at $114,000 after acquiring an additional 1,200 shares during the period. D.A. Davidson & CO. increased its position in AmerisourceBergen by 29.0% in the 2nd quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock valued at $157,000 after acquiring an additional 375 shares during the period. Intl Fcstone Inc. acquired a new position in AmerisourceBergen in the 2nd quarter valued at about $201,000. Finally, Pinnacle Associates Ltd. acquired a new position in AmerisourceBergen in the 2nd quarter valued at about $203,000. Hedge funds and other institutional investors own 67.94% of the company’s stock.
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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