AmerisourceBergen Corp. (NYSE:ABC) Director Richard W. Gochnauer sold 2,278 shares of AmerisourceBergen stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $101.13, for a total transaction of $230,374.14. Following the sale, the director now directly owns 13,225 shares of the company’s stock, valued at approximately $1,337,444.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of AmerisourceBergen Corp. (ABC) traded down $1.37 during mid-day trading on Wednesday, hitting $96.40. 3,980,000 shares of the stock traded hands, compared to its average volume of 2,150,000. AmerisourceBergen Corp. has a one year low of $71.90 and a one year high of $106.27. The firm has a market cap of $21,180.00, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02. The company has a quick ratio of 0.50, a current ratio of 0.95 and a debt-to-equity ratio of 1.61.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.20. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. The company had revenue of $40.47 billion during the quarter, compared to analyst estimates of $40.42 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. sell-side analysts predict that AmerisourceBergen Corp. will post 6.58 earnings per share for the current year.
A number of research firms have commented on ABC. Jefferies Group set a $95.00 target price on shares of AmerisourceBergen and gave the stock a “hold” rating in a report on Wednesday, February 7th. TheStreet raised shares of AmerisourceBergen from a “c” rating to a “b” rating in a report on Tuesday, February 6th. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Thursday, February 8th. Needham & Company LLC lowered their target price on shares of AmerisourceBergen from $117.00 to $113.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $112.00 target price (up previously from $105.00) on shares of AmerisourceBergen in a report on Wednesday, February 7th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $101.17.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Merchants Corp boosted its stake in AmerisourceBergen by 160.5% in the 3rd quarter. First Merchants Corp now owns 27,342 shares of the company’s stock worth $2,262,000 after purchasing an additional 16,848 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in AmerisourceBergen by 23.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,459 shares of the company’s stock worth $369,000 after purchasing an additional 842 shares during the period. Wedge Capital Management L L P NC boosted its stake in AmerisourceBergen by 17.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 494,216 shares of the company’s stock worth $40,896,000 after purchasing an additional 72,743 shares during the period. Achmea Investment Management B.V. boosted its stake in AmerisourceBergen by 7.8% in the 2nd quarter. Achmea Investment Management B.V. now owns 29,338 shares of the company’s stock worth $2,770,000 after purchasing an additional 2,123 shares during the period. Finally, Burgundy Asset Management Ltd. boosted its stake in AmerisourceBergen by 3.3% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,649,123 shares of the company’s stock worth $250,422,000 after purchasing an additional 84,163 shares during the period. 66.84% of the stock is owned by hedge funds and other institutional investors.
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AmerisourceBergen 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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