United Services Automobile Association lessened its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 28.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,581 shares of the company’s stock after selling 24,914 shares during the period. United Services Automobile Association’s holdings in AmerisourceBergen were worth $5,422,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in ABC. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of AmerisourceBergen during the 2nd quarter valued at about $99,092,000. Millennium Management LLC grew its position in shares of AmerisourceBergen by 183.5% during the 2nd quarter. Millennium Management LLC now owns 1,145,365 shares of the company’s stock valued at $97,665,000 after buying an additional 741,391 shares during the last quarter. Mainstay Capital Management LLC ADV grew its position in shares of AmerisourceBergen by 6,233.3% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 609,010 shares of the company’s stock valued at $7,469,000 after buying an additional 599,394 shares during the last quarter. BlackRock Inc. grew its position in shares of AmerisourceBergen by 4.6% during the 2nd quarter. BlackRock Inc. now owns 12,776,453 shares of the company’s stock valued at $1,089,447,000 after buying an additional 557,312 shares during the last quarter. Finally, Unigestion Holding SA bought a new stake in shares of AmerisourceBergen during the 2nd quarter valued at about $38,348,000. 66.67% of the stock is owned by institutional investors and hedge funds.
In other AmerisourceBergen news, EVP Dale Danilewitz sold 3,120 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $81.67, for a total value of $254,810.40. Following the completion of the transaction, the executive vice president now owns 3,120 shares in the company, valued at approximately $254,810.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $93.09, for a total transaction of $1,987,471.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,074 shares of company stock valued at $7,745,452. 27.30% of the stock is owned by insiders.
NYSE ABC opened at $88.48 on Friday. AmerisourceBergen Corp. has a 52 week low of $71.90 and a 52 week high of $106.27. The company has a quick ratio of 0.51, a current ratio of 0.94 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $19.95 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.44 and a beta of 1.02.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, August 2nd. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.46 by $0.08. AmerisourceBergen had a net margin of 0.69% and a return on equity of 48.65%. The firm had revenue of $43.14 billion during the quarter, compared to analysts’ expectations of $43.05 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. AmerisourceBergen’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts expect that AmerisourceBergen Corp. will post 6.48 earnings per share for the current year.
A number of brokerages recently weighed in on ABC. ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Robert W. Baird reaffirmed a “neutral” rating and set a $94.00 price objective on shares of AmerisourceBergen in a research report on Friday, July 20th. Morgan Stanley lowered their price objective on shares of AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 3rd. Finally, Mizuho reaffirmed a “hold” rating and set a $90.00 price objective on shares of AmerisourceBergen in a research report on Sunday, August 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. AmerisourceBergen presently has a consensus rating of “Hold” and an average target price of $101.80.
AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.
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