First Quadrant L P CA decreased its position in AmerisourceBergen Corp. (NYSE:ABC) by 70.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,899 shares of the company’s stock after selling 6,811 shares during the period. First Quadrant L P CA’s holdings in AmerisourceBergen were worth $239,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ABC. BB&T Securities LLC raised its holdings in shares of AmerisourceBergen by 5.6% during the second quarter. BB&T Securities LLC now owns 399,505 shares of the company’s stock valued at $34,061,000 after purchasing an additional 21,043 shares during the period. Cambridge Financial Group Inc. raised its holdings in shares of AmerisourceBergen by 3.0% during the second quarter. Cambridge Financial Group Inc. now owns 71,412 shares of the company’s stock valued at $6,089,000 after purchasing an additional 2,085 shares during the period. ARP Americas LP raised its holdings in shares of AmerisourceBergen by 123.2% during the second quarter. ARP Americas LP now owns 13,405 shares of the company’s stock valued at $1,143,000 after purchasing an additional 7,400 shares during the period. AustralianSuper Pty Ltd raised its holdings in shares of AmerisourceBergen by 33.9% during the second quarter. AustralianSuper Pty Ltd now owns 250,926 shares of the company’s stock valued at $21,394,000 after purchasing an additional 63,478 shares during the period. Finally, Occidental Asset Management LLC raised its holdings in shares of AmerisourceBergen by 35.5% during the second quarter. Occidental Asset Management LLC now owns 7,969 shares of the company’s stock valued at $679,000 after purchasing an additional 2,086 shares during the period. Institutional investors and hedge funds own 66.15% of the company’s stock.
In other AmerisourceBergen news, EVP John G. Chou sold 13,997 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $81.48, for a total value of $1,140,475.56. Following the completion of the sale, the executive vice president now directly owns 65,782 shares of the company’s stock, valued at approximately $5,359,917.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gina Clark sold 7,800 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $84.96, for a total transaction of $662,688.00. Following the completion of the sale, the executive vice president now directly owns 23,595 shares of the company’s stock, valued at $2,004,631.20. The disclosure for this sale can be found here. Insiders sold a total of 109,506 shares of company stock valued at $9,412,050 over the last ninety days. 27.80% of the stock is currently owned by insiders.
NYSE:ABC opened at $87.39 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.56. The firm has a 50-day moving average of $84.18 and a 200-day moving average of $83.06. The company has a market cap of $18.24 billion, a PE ratio of 12.54, a PEG ratio of 1.45 and a beta of 1.00. AmerisourceBergen Corp. has a one year low of $69.36 and a one year high of $94.75.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, August 1st. The company reported $1.76 EPS for the quarter, topping the consensus estimate of $1.62 by $0.14. The company had revenue of $45.24 billion during the quarter, compared to the consensus estimate of $45.15 billion. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.54 earnings per share. On average, equities research analysts expect that AmerisourceBergen Corp. will post 7.05 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on the stock. TheStreet upgraded shares of AmerisourceBergen from a “c+” rating to a “b” rating in a report on Thursday, August 1st. Deutsche Bank initiated coverage on shares of AmerisourceBergen in a report on Thursday, September 12th. They set a “hold” rating and a $91.00 price objective on the stock. Morgan Stanley decreased their target price on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a research report on Friday, September 6th. Finally, ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. AmerisourceBergen currently has a consensus rating of “Hold” and a consensus price target of $87.38.
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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