ICW Investment Advisors LLC raised its position in AmerisourceBergen Corp. (NYSE:ABC) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,007 shares of the company’s stock after buying an additional 485 shares during the period. ICW Investment Advisors LLC’s holdings in AmerisourceBergen were worth $1,151,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of ABC. Norges Bank purchased a new stake in AmerisourceBergen in the 4th quarter valued at about $134,397,000. JPMorgan Chase & Co. increased its stake in shares of AmerisourceBergen by 21.4% during the 1st quarter. JPMorgan Chase & Co. now owns 4,892,396 shares of the company’s stock worth $432,978,000 after purchasing an additional 860,769 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of AmerisourceBergen during the 1st quarter worth approximately $54,923,000. AQR Capital Management LLC increased its stake in shares of AmerisourceBergen by 117.3% during the 4th quarter. AQR Capital Management LLC now owns 858,551 shares of the company’s stock worth $72,230,000 after purchasing an additional 463,487 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its stake in shares of AmerisourceBergen by 26.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,199,741 shares of the company’s stock worth $186,986,000 after purchasing an additional 453,621 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.
NYSE:ABC traded down $0.14 during trading hours on Monday, hitting $95.20. The stock had a trading volume of 348,730 shares, compared to its average volume of 1,284,977. The company has a 50 day simple moving average of $88.69 and a two-hundred day simple moving average of $87.76. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.97 and a quick ratio of 0.63. AmerisourceBergen Corp. has a one year low of $72.06 and a one year high of $97.50. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.79 and a beta of 0.62.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, May 7th. The company reported $2.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.13. AmerisourceBergen had a net margin of 0.85% and a return on equity of 48.85%. The firm had revenue of $47.42 billion during the quarter, compared to the consensus estimate of $45.90 billion. During the same period last year, the firm earned $2.11 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts anticipate that AmerisourceBergen Corp. will post 7.45 earnings per share for the current year.
ABC has been the subject of several research analyst reports. Credit Suisse Group initiated coverage on shares of AmerisourceBergen in a research note on Wednesday, April 22nd. They set a “buy” rating and a $105.00 price target for the company. Deutsche Bank raised their price target on shares of AmerisourceBergen from $93.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, May 11th. Robert W. Baird upgraded shares of AmerisourceBergen from a “neutral” rating to an “outperform” rating and set a $112.00 price target for the company in a research note on Friday, February 7th. UBS Group decreased their price target on shares of AmerisourceBergen from $108.00 to $99.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Finally, Morgan Stanley raised their price objective on shares of AmerisourceBergen from $84.00 to $94.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. AmerisourceBergen currently has an average rating of “Hold” and a consensus price target of $101.89.
In other news, Director Dermot Mark Durcan purchased 1,350 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was purchased at an average cost of $74.33 per share, with a total value of $100,345.50. Following the acquisition, the director now directly owns 6,717 shares in the company, valued at $499,274.61. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Steven H. Collis sold 19,905 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $84.75, for a total transaction of $1,686,948.75. Following the completion of the transaction, the chief executive officer now directly owns 162,027 shares of the company’s stock, valued at $13,731,788.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,889 shares of company stock valued at $3,667,243. Insiders own 28.30% 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.
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