Huntington National Bank boosted its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 5.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,652 shares of the company’s stock after buying an additional 1,591 shares during the quarter. Huntington National Bank’s holdings in AmerisourceBergen were worth $3,090,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of AmerisourceBergen by 21.4% during the first 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. Geode Capital Management LLC lifted its position in shares of AmerisourceBergen by 1.6% during the first quarter. Geode Capital Management LLC now owns 2,457,080 shares of the company’s stock worth $217,042,000 after purchasing an additional 39,550 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of AmerisourceBergen by 7.1% during the first quarter. Bank of New York Mellon Corp now owns 2,285,745 shares of the company’s stock worth $202,290,000 after purchasing an additional 150,700 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of AmerisourceBergen by 4.7% during the first quarter. Wells Fargo & Company MN now owns 1,813,142 shares of the company’s stock worth $160,464,000 after purchasing an additional 82,057 shares during the last quarter. Finally, Coho Partners Ltd. lifted its position in shares of AmerisourceBergen by 2.2% during the second quarter. Coho Partners Ltd. now owns 1,600,040 shares of the company’s stock worth $161,236,000 after purchasing an additional 33,897 shares during the last quarter. 64.25% of the stock is owned by institutional investors.
In other news, EVP Gina Clark sold 3,098 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $90.96, for a total transaction of $281,794.08. Following the sale, the executive vice president now owns 17,285 shares in the company, valued at $1,572,243.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert P. Mauch sold 5,262 shares of the business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $104.40, for a total value of $549,352.80. Following the sale, the executive vice president now owns 28,091 shares in the company, valued at approximately $2,932,700.40. The disclosure for this sale can be found here. Insiders sold 79,102 shares of company stock worth $7,850,280 in the last quarter. 28.30% of the stock is owned by insiders.
ABC has been the subject of several research analyst reports. Credit Suisse Group assumed coverage on AmerisourceBergen in a research report on Wednesday, April 22nd. They set a “buy” rating and a $105.00 target price for the company. Morgan Stanley upgraded AmerisourceBergen from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $94.00 to $112.00 in a report on Monday, June 15th. ValuEngine downgraded AmerisourceBergen from a “sell” rating to a “strong sell” rating in a report on Thursday, July 23rd. Bank of America lifted their price objective on AmerisourceBergen from $85.00 to $88.00 and gave the company an “underperform” rating in a report on Tuesday, July 21st. Finally, Deutsche Bank lifted their price objective on AmerisourceBergen from $93.00 to $98.00 and gave the company a “hold” rating in a report on Monday, May 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. AmerisourceBergen has an average rating of “Hold” and an average target price of $102.30.
ABC opened at $100.19 on Friday. The business’s 50-day moving average is $100.26 and its two-hundred day moving average is $91.98. AmerisourceBergen Corp. has a 1 year low of $72.06 and a 1 year high of $105.08. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.97 and a quick ratio of 0.63. The firm has a market capitalization of $20.38 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.92 and a beta of 0.61.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, May 7th. The company reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.13. AmerisourceBergen had a return on equity of 48.85% and a net margin of 0.85%. The company had revenue of $47.42 billion for the quarter, compared to analyst estimates of $45.90 billion. During the same quarter in the previous year, the firm earned $2.11 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts expect that AmerisourceBergen Corp. will post 7.4 EPS for the current year.
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.