AmerisourceBergen Corp. (NYSE:ABC) Director Henry Wadsworth Mcgee III sold 10,585 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $91.97, for a total value of $973,502.45. Following the completion of the sale, the director now owns 24,510 shares in the company, valued at approximately $2,254,184.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NYSE ABC opened at $89.85 on Friday. The firm has a market cap of $18.88 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 1.75 and a beta of 0.95. AmerisourceBergen Corp. has a twelve month low of $69.36 and a twelve month high of $94.85. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.43. The business has a 50-day simple moving average of $84.29.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, May 2nd. The company reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.15. The company had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $43.44 billion. AmerisourceBergen had a return on equity of 46.24% and a net margin of 0.53%. AmerisourceBergen’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 EPS. As a group, equities analysts anticipate that AmerisourceBergen Corp. will post 6.85 EPS for the current fiscal year.
ABC has been the topic of a number of recent research reports. Zacks Investment Research upgraded Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research note on Wednesday, June 12th. Wolfe Research initiated coverage on Iqvia in a research note on Tuesday, April 2nd. They issued a “market perform” rating on the stock. Argus lowered their target price on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, June 3rd. ValuEngine upgraded Westpac Banking from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, Bank of America set a $25.00 target price on Bed Bath & Beyond and gave the stock a “buy” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. AmerisourceBergen presently has a consensus rating of “Hold” and a consensus target price of $88.33.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rational Advisors LLC raised its holdings in AmerisourceBergen by 1,627.3% in the 1st quarter. Rational Advisors LLC now owns 380 shares of the company’s stock worth $30,000 after purchasing an additional 358 shares during the period. Riverview Trust Co raised its holdings in AmerisourceBergen by 127.3% in the 1st quarter. Riverview Trust Co now owns 391 shares of the company’s stock worth $31,000 after purchasing an additional 219 shares during the period. Trust Co. of Vermont raised its holdings in AmerisourceBergen by 963.8% in the 1st quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock worth $40,000 after purchasing an additional 453 shares during the period. Financial Gravity Wealth Inc. acquired a new position in AmerisourceBergen in the 1st quarter worth about $48,000. Finally, Valeo Financial Advisors LLC raised its holdings in AmerisourceBergen by 139.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 777 shares of the company’s stock worth $66,000 after purchasing an additional 452 shares during the period. 66.52% of the stock is owned by institutional investors.
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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