Victory Capital Management Inc. boosted its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 9.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,769,023 shares of the company’s stock after purchasing an additional 245,394 shares during the quarter. AmerisourceBergen accounts for approximately 0.5% of Victory Capital Management Inc.’s holdings, making the stock its 28th biggest position. Victory Capital Management Inc. owned 1.32% of AmerisourceBergen worth $236,087,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in AmerisourceBergen by 6.2% during the 4th quarter. Geode Capital Management LLC now owns 1,954,861 shares of the company’s stock worth $145,173,000 after acquiring an additional 114,505 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of AmerisourceBergen by 17.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 62,466 shares of the company’s stock worth $4,967,000 after buying an additional 9,285 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in AmerisourceBergen by 6.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,132 shares of the company’s stock worth $726,000 after purchasing an additional 576 shares in the last quarter. Mason Street Advisors LLC lifted its stake in AmerisourceBergen by 0.8% in the 1st quarter. Mason Street Advisors LLC now owns 22,285 shares of the company’s stock worth $1,772,000 after purchasing an additional 174 shares in the last quarter. Finally, LSV Asset Management lifted its stake in AmerisourceBergen by 152.1% in the 1st quarter. LSV Asset Management now owns 37,127 shares of the company’s stock worth $2,952,000 after purchasing an additional 22,400 shares in the last quarter. Hedge funds and other institutional investors own 65.95% of the company’s stock.
In other AmerisourceBergen news, Director Henry Wadsworth Mcgee III sold 10,585 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $91.97, for a total value of $973,502.45. Following the transaction, the director now owns 24,510 shares in the company, valued at $2,254,184.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven H. Collis sold 19,905 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $89.58, for a total transaction of $1,783,089.90. Following the completion of the transaction, the chief executive officer now owns 154,484 shares in the company, valued at approximately $13,838,676.72. The disclosure for this sale can be found here. Insiders sold a total of 86,189 shares of company stock worth $7,610,478 over the last ninety days. Insiders own 27.80% of the company’s stock.
A number of equities research analysts recently issued reports on the company. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Wednesday, June 12th. Argus lowered their price target on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Deutsche Bank initiated coverage on shares of AmerisourceBergen in a research note on Thursday, September 12th. They issued a “hold” rating and a $91.00 target price on the stock. Finally, Morgan Stanley lowered their target price on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $87.38.
NYSE:ABC traded up $0.49 during trading hours on Friday, reaching $85.12. The company’s stock had a trading volume of 2,038,987 shares, compared to its average volume of 1,211,336. The firm has a market capitalization of $17.79 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.52 and a beta of 1.00. The firm has a 50-day simple moving average of $85.76 and a 200-day simple moving average of $81.99. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.95. AmerisourceBergen Corp. has a 1 year low of $69.36 and a 1 year high of $94.85.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.14. The firm had revenue of $45.24 billion for the quarter, compared to the consensus estimate of $45.15 billion. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share. Equities analysts anticipate that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th were paid a $0.40 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.88%. AmerisourceBergen’s dividend payout ratio (DPR) is currently 24.65%.
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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