Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 13.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,517 shares of the company’s stock after buying an additional 4,615 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AmerisourceBergen were worth $3,982,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. MinichMacGregor Wealth Management LLC acquired a new position in AmerisourceBergen during the 1st quarter worth $1,620,000. Oregon Public Employees Retirement Fund boosted its position in shares of AmerisourceBergen by 65.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 64,335 shares of the company’s stock valued at $6,483,000 after purchasing an additional 25,348 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in AmerisourceBergen by 5.7% during the second quarter. Envestnet Asset Management Inc. now owns 311,653 shares of the company’s stock valued at $31,405,000 after purchasing an additional 16,899 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in AmerisourceBergen by 6.4% during the first quarter. Crossmark Global Holdings Inc. now owns 28,624 shares of the company’s stock worth $2,533,000 after buying an additional 1,719 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of AmerisourceBergen by 15.5% in the first quarter. The Manufacturers Life Insurance Company now owns 164,581 shares of the company’s stock valued at $14,566,000 after buying an additional 22,142 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.
NYSE ABC opened at $100.19 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.97 and a quick ratio of 0.63. The firm has a market capitalization of $20.38 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 1.92 and a beta of 0.61. The company has a 50 day simple moving average of $100.26 and a 200-day simple moving average of $91.98. AmerisourceBergen Corp. has a 52-week low of $72.06 and a 52-week high of $105.08.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, May 7th. The company reported $2.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.13. The firm had revenue of $47.42 billion for the quarter, compared to analyst estimates of $45.90 billion. AmerisourceBergen had a net margin of 0.85% and a return on equity of 48.85%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 EPS. On average, analysts predict that AmerisourceBergen Corp. will post 7.4 EPS for the current year.
A number of equities research analysts have recently issued reports on ABC shares. Bank of America boosted their target price on AmerisourceBergen from $85.00 to $88.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 21st. Morgan Stanley upgraded AmerisourceBergen from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $94.00 to $112.00 in a report on Monday, June 15th. ValuEngine lowered shares of AmerisourceBergen from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 23rd. Deutsche Bank lifted their target price on shares of AmerisourceBergen from $93.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Finally, UBS Group reduced their price target on shares of AmerisourceBergen from $108.00 to $99.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $102.30.
In related news, EVP Gina Clark sold 3,097 shares of AmerisourceBergen stock in a transaction on Monday, July 27th. The shares were sold at an average price of $103.38, for a total value of $320,167.86. Following the transaction, the executive vice president now owns 16,049 shares in the company, valued at approximately $1,659,145.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lazarus Krikorian sold 19,386 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $99.90, for a total transaction of $1,936,661.40. In the last three months, insiders have sold 79,102 shares of company stock worth $7,850,280. 28.30% of the stock is currently owned by insiders.
AmerisourceBergen Company Profile
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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