Ritholtz Wealth Management trimmed its position in AmerisourceBergen Co. (NYSE:ABC) by 20.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,633 shares of the company’s stock after selling 671 shares during the period. Ritholtz Wealth Management’s holdings in AmerisourceBergen were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FDx Advisors Inc. boosted its holdings in AmerisourceBergen by 124.6% in the first quarter. FDx Advisors Inc. now owns 10,596 shares of the company’s stock valued at $37,000 after purchasing an additional 5,879 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of AmerisourceBergen by 15.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 164,581 shares of the company’s stock worth $14,566,000 after acquiring an additional 22,142 shares in the last quarter. AXA boosted its stake in shares of AmerisourceBergen by 9.8% during the 1st quarter. AXA now owns 60,743 shares of the company’s stock worth $5,376,000 after acquiring an additional 5,400 shares in the last quarter. Ellevest Inc. boosted its stake in shares of AmerisourceBergen by 216.1% during the 2nd quarter. Ellevest Inc. now owns 294 shares of the company’s stock worth $30,000 after acquiring an additional 201 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of AmerisourceBergen by 1.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 29,114 shares of the company’s stock worth $2,933,000 after acquiring an additional 518 shares in the last quarter. 64.09% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:ABC traded down $1.25 during midday trading on Monday, hitting $98.13. 1,854 shares of the company were exchanged, compared to its average volume of 1,347,904. The company has a fifty day simple moving average of $96.55 and a 200 day simple moving average of $96.12. AmerisourceBergen Co. has a fifty-two week low of $72.06 and a fifty-two week high of $106.45. The company has a current ratio of 0.98, a quick ratio of 0.59 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $20.29 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.56 and a beta of 0.53.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.27. The company had revenue of $45.37 billion for the quarter, compared to analyst estimates of $44.71 billion. AmerisourceBergen had a net margin of 0.84% and a return on equity of 46.04%. AmerisourceBergen’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 earnings per share. As a group, equities research analysts expect that AmerisourceBergen Co. will post 7.87 EPS for the current year.
Several research firms recently weighed in on ABC. Bank of America upped their price target on shares of AmerisourceBergen from $85.00 to $88.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 21st. UBS Group increased their price objective on shares of AmerisourceBergen from $99.00 to $112.00 and gave the company a “buy” rating in a report on Monday, August 10th. Credit Suisse Group raised their price target on shares of AmerisourceBergen from $111.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Morgan Stanley raised their price target on shares of AmerisourceBergen from $112.00 to $121.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, ValuEngine raised shares of AmerisourceBergen from a “strong sell” rating to a “sell” rating in a research report on Monday, August 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. AmerisourceBergen has a consensus rating of “Hold” and a consensus price target of $105.80.
In other AmerisourceBergen news, EVP John G. Chou sold 5,602 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $94.88, for a total value of $531,517.76. Also, EVP Robert P. Mauch sold 5,262 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $101.72, for a total transaction of $535,250.64. Following the completion of the sale, the executive vice president now directly owns 28,091 shares in the company, valued at approximately $2,857,416.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,563 shares of company stock worth $1,906,886. 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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