Lourd Capital LLC acquired a new position in AmerisourceBergen Corp. (NYSE:ABC) during the 3rd quarter, Holdings Channel reports. The fund acquired 3,053 shares of the company’s stock, valued at approximately $282,000.
A number of other hedge funds have also bought and sold shares of ABC. Fort Washington Investment Advisors Inc. OH purchased a new position in AmerisourceBergen in the second quarter worth $99,092,000. Millennium Management LLC boosted its position in AmerisourceBergen by 183.5% in the second quarter. Millennium Management LLC now owns 1,145,365 shares of the company’s stock worth $97,665,000 after purchasing an additional 741,391 shares during the last quarter. Mainstay Capital Management LLC ADV boosted its position in AmerisourceBergen by 6,233.3% in the second quarter. Mainstay Capital Management LLC ADV now owns 609,010 shares of the company’s stock worth $7,469,000 after purchasing an additional 599,394 shares during the last quarter. BlackRock Inc. boosted its position in AmerisourceBergen by 4.6% in the second quarter. BlackRock Inc. now owns 12,776,453 shares of the company’s stock worth $1,089,447,000 after purchasing an additional 557,312 shares during the last quarter. Finally, Unigestion Holding SA purchased a new position in AmerisourceBergen in the second quarter worth $38,348,000. 66.67% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on ABC. ValuEngine cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Robert W. Baird reissued a “neutral” rating and issued a $94.00 price objective on shares of AmerisourceBergen in a research report on Friday, July 20th. Morgan Stanley cut their price objective on AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 3rd. Finally, Mizuho reissued a “hold” rating and issued a $90.00 price objective on shares of AmerisourceBergen in a research report on Sunday, August 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $101.80.
Shares of NYSE ABC opened at $88.48 on Friday. AmerisourceBergen Corp. has a one year low of $71.90 and a one year high of $106.27. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.51 and a current ratio of 0.94. The firm has a market cap of $19.95 billion, a PE ratio of 15.05, a PEG ratio of 1.44 and a beta of 1.02.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.08. AmerisourceBergen had a return on equity of 48.65% and a net margin of 0.69%. The firm had revenue of $43.14 billion for the quarter, compared to analysts’ expectations of $43.05 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts expect that AmerisourceBergen Corp. will post 6.48 EPS for the current fiscal year.
In related news, Chairman Steven H. Collis sold 21,350 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $93.09, for a total transaction of $1,987,471.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kathy H. Gaddes sold 2,652 shares of the stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $85.00, for a total value of $225,420.00. Following the sale, the executive vice president now directly owns 1,863 shares in the company, valued at approximately $158,355. The disclosure for this sale can be found here. Insiders have sold a total of 89,074 shares of company stock worth $7,745,452 in the last ninety days. Insiders own 27.30% of the company’s stock.
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.
Want to see what other hedge funds are holding ABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AmerisourceBergen Corp. (NYSE:ABC).
Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.