Sigma Investment Counselors Inc. lessened its stake in AmerisourceBergen Corp. (NYSE:ABC) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,241 shares of the company’s stock after selling 229 shares during the period. Sigma Investment Counselors Inc.’s holdings in AmerisourceBergen were worth $1,129,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. raised its position in AmerisourceBergen by 1.1% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,424 shares of the company’s stock worth $988,000 after purchasing an additional 138 shares during the last quarter. Rothschild Investment Corp IL raised its position in AmerisourceBergen by 1.1% in the 2nd quarter. Rothschild Investment Corp IL now owns 12,345 shares of the company’s stock worth $1,053,000 after purchasing an additional 140 shares during the last quarter. Iowa State Bank raised its position in AmerisourceBergen by 1.3% in the 1st quarter. Iowa State Bank now owns 10,963 shares of the company’s stock worth $872,000 after purchasing an additional 144 shares during the last quarter. Edmp Inc. raised its position in AmerisourceBergen by 1.3% in the 1st quarter. Edmp Inc. now owns 12,857 shares of the company’s stock worth $1,022,000 after purchasing an additional 165 shares during the last quarter. Finally, AE Wealth Management LLC raised its position in AmerisourceBergen by 4.7% in the 2nd quarter. AE Wealth Management LLC now owns 3,700 shares of the company’s stock worth $316,000 after purchasing an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 66.49% of the company’s stock.
In other news, Director Henry Wadsworth Mcgee III sold 10,585 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $91.97, for a total value of $973,502.45. Following the completion of the transaction, the director now owns 24,510 shares of the company’s stock, valued at approximately $2,254,184.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dale Danilewitz sold 5,702 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $77.61, for a total transaction of $442,532.22. Following the completion of the transaction, the insider now directly owns 7,330 shares of the company’s stock, valued at approximately $568,881.30. The disclosure for this sale can be found here. Insiders sold a total of 163,179 shares of company stock valued at $13,907,781 in the last three months. 27.80% of the stock is owned by company insiders.
A number of research firms have commented on ABC. ValuEngine raised shares of Westpac Banking from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. Wolfe Research began coverage on shares of Iqvia in a report on Tuesday, April 2nd. They set a “market perform” rating for the company. Guggenheim lifted their target price on shares of Intuit from $260.00 to $310.00 in a report on Thursday, April 11th. Argus lowered their target price on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a report on Monday, June 3rd. Finally, Bank of America set a $25.00 target price on shares of Bed Bath & Beyond and gave the stock a “buy” rating in a report on Wednesday, April 10th. One investment 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. The company presently has an average rating of “Hold” and a consensus target price of $88.33.
ABC traded up $0.19 during trading on Friday, reaching $86.12. 722,584 shares of the company’s stock were exchanged, compared to its average volume of 1,418,301. The firm has a fifty day moving average of $86.10. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.95 and a quick ratio of 0.56. AmerisourceBergen Corp. has a fifty-two week low of $69.36 and a fifty-two week high of $94.85. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.65 and a beta of 0.95.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.15. AmerisourceBergen had a net margin of 0.53% and a return on equity of 46.24%. The company had revenue of $43.32 billion during the quarter, compared to analyst estimates of $43.44 billion. During the same quarter in the previous year, the business earned $1.94 EPS. The firm’s revenue was up 5.6% on a year-over-year basis. Equities research analysts forecast that AmerisourceBergen Corp. will post 6.86 earnings per share 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.
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