AmerisourceBergen Corp. (NYSE:ABC) EVP Robert P. Mauch sold 5,262 shares of AmerisourceBergen stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $102.00, for a total transaction of $536,724.00. Following the transaction, the executive vice president now directly owns 28,091 shares of the company’s stock, valued at $2,865,282. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
NYSE:ABC opened at $98.84 on Thursday. The company has a market cap of $20.65 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.91 and a beta of 0.62. The company has a current ratio of 0.97, a quick ratio of 0.63 and a debt-to-equity ratio of 0.98. The company has a 50 day simple moving average of $94.06 and a two-hundred day simple moving average of $89.15. AmerisourceBergen Corp. has a 12 month low of $72.06 and a 12 month high of $103.37.
AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Thursday, May 7th. The company reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.13. The company had revenue of $47.42 billion during the quarter, compared to analysts’ expectations of $45.90 billion. AmerisourceBergen had a return on equity of 48.85% and a net margin of 0.85%. AmerisourceBergen’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share. Research analysts forecast that AmerisourceBergen Corp. will post 7.45 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in AmerisourceBergen by 1.4% during the first quarter. Royal Bank of Canada now owns 975,844 shares of the company’s stock valued at $86,363,000 after purchasing an additional 13,863 shares in the last quarter. AXA increased its holdings in AmerisourceBergen by 9.8% in 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. Hayden Royal LLC boosted its position in shares of AmerisourceBergen by 13.1% in the first quarter. Hayden Royal LLC now owns 2,984 shares of the company’s stock worth $264,000 after purchasing an additional 346 shares during the period. State of Tennessee Treasury Department raised its position in shares of AmerisourceBergen by 305.1% during the 1st quarter. State of Tennessee Treasury Department now owns 145,091 shares of the company’s stock valued at $12,841,000 after purchasing an additional 109,278 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in AmerisourceBergen by 15.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 164,581 shares of the company’s stock worth $14,566,000 after buying an additional 22,142 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on ABC. ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Wednesday, April 29th. Deutsche Bank raised their price objective on AmerisourceBergen from $93.00 to $98.00 and gave the company a “hold” rating in a research report on Monday, May 11th. Morgan Stanley raised AmerisourceBergen from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $94.00 to $112.00 in a report on Monday, June 15th. JPMorgan Chase & Co. raised AmerisourceBergen from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $93.00 to $106.00 in a research note on Wednesday, April 1st. Finally, Credit Suisse Group assumed coverage on AmerisourceBergen in a research report on Wednesday, April 22nd. They issued a “buy” rating and a $105.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $103.89.
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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