Strs Ohio cut its stake in shares of AmerisourceBergen Co. (NYSE:ABC) by 18.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,059 shares of the company’s stock after selling 5,625 shares during the period. Strs Ohio’s holdings in AmerisourceBergen were worth $2,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC purchased a new stake in AmerisourceBergen during the fourth quarter valued at approximately $32,000. Truvestments Capital LLC bought a new position in shares of AmerisourceBergen during the fourth quarter valued at approximately $35,000. Northwest Investment Counselors LLC bought a new position in shares of AmerisourceBergen during the first quarter valued at approximately $37,000. Jacobi Capital Management LLC grew its stake in shares of AmerisourceBergen by 126.2% during the fourth quarter. Jacobi Capital Management LLC now owns 414 shares of the company’s stock valued at $40,000 after buying an additional 231 shares during the last quarter. Finally, Freedman Financial Associates Inc. bought a new position in shares of AmerisourceBergen during the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 63.35% of the company’s stock.
A number of research firms have recently commented on ABC. Morgan Stanley upped their target price on AmerisourceBergen from $130.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, February 8th. Zacks Investment Research raised AmerisourceBergen from a “sell” rating to a “hold” rating and set a $111.00 target price on the stock in a research note on Thursday, January 7th. Bank of America raised AmerisourceBergen from an “underperform” rating to a “neutral” rating in a research note on Wednesday, January 6th. Evercore ISI raised AmerisourceBergen from an “in-line” rating to an “outperform” rating in a research note on Thursday, February 4th. Finally, Mizuho increased their price objective on AmerisourceBergen from $104.00 to $114.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 9th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $121.67.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Wednesday, February 3rd. The company reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.24. The company had revenue of $52.50 billion for the quarter, compared to the consensus estimate of $50.49 billion. AmerisourceBergen had a positive return on equity of 65.93% and a negative net margin of 1.80%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $1.76 EPS. Equities analysts expect that AmerisourceBergen Co. will post 8.38 earnings per share for the current year.
In related news, CEO Steven H. Collis sold 33,697 shares of AmerisourceBergen stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $112.71, for a total value of $3,797,988.87. Following the completion of the sale, the chief executive officer now owns 216,724 shares in the company, valued at approximately $24,426,962.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven H. Collis sold 12,784 shares of AmerisourceBergen stock in a transaction that occurred on Tuesday, April 20th. The shares were sold at an average price of $120.07, for a total transaction of $1,534,974.88. Following the completion of the sale, the chief executive officer now owns 206,347 shares of the company’s stock, valued at approximately $24,776,084.29. The disclosure for this sale can be found here. Insiders sold a total of 94,373 shares of company stock valued at $10,882,620 in the last quarter. 28.30% of the stock is owned by insiders.
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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