Pineno Levin & Ford Asset Management Inc. decreased its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 63,277 shares of the company’s stock after selling 365 shares during the quarter. AmerisourceBergen accounts for 2.1% of Pineno Levin & Ford Asset Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Pineno Levin & Ford Asset Management Inc.’s holdings in AmerisourceBergen were worth $5,210,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. First Trust Advisors LP increased its holdings in shares of AmerisourceBergen by 18.6% during the 1st quarter. First Trust Advisors LP now owns 469,031 shares of the company’s stock valued at $37,297,000 after acquiring an additional 73,691 shares during the last quarter. Allstate Corp acquired a new stake in AmerisourceBergen in the 1st quarter valued at approximately $259,000. Advisory Services Network LLC grew its holdings in AmerisourceBergen by 105.7% in the 1st quarter. Advisory Services Network LLC now owns 2,032 shares of the company’s stock valued at $161,000 after buying an additional 1,044 shares during the last quarter. Nordea Investment Management AB grew its holdings in AmerisourceBergen by 60.2% in the 1st quarter. Nordea Investment Management AB now owns 75,977 shares of the company’s stock valued at $6,041,000 after buying an additional 28,552 shares during the last quarter. Finally, Boltwood Capital Management grew its holdings in AmerisourceBergen by 19.6% in the 2nd quarter. Boltwood Capital Management now owns 9,970 shares of the company’s stock valued at $850,000 after buying an additional 1,634 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.
ABC traded up $2.74 during midday trading on Thursday, reaching $88.79. The company’s stock had a trading volume of 69,479 shares, compared to its average volume of 1,098,213. The stock has a market cap of $17.15 billion, a P/E ratio of 13.71, a PEG ratio of 1.36 and a beta of 1.00. The company has a fifty day simple moving average of $83.22 and a 200 day simple moving average of $82.46. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.40. AmerisourceBergen Corp. has a twelve month low of $69.36 and a twelve month high of $94.85.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.14. AmerisourceBergen had a return on equity of 47.88% and a net margin of 0.54%. The company had revenue of $45.24 billion during the quarter, compared to the consensus estimate of $45.15 billion. During the same quarter last year, the company earned $1.54 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts expect that AmerisourceBergen Corp. will post 7.05 earnings per share for the current year.
In other AmerisourceBergen news, CEO Steven H. Collis sold 19,905 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $82.12, for a total value of $1,634,598.60. Following the completion of the sale, the chief executive officer now owns 154,484 shares in the company, valued at approximately $12,686,226.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gina Clark sold 7,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $84.96, for a total value of $662,688.00. Following the completion of the sale, the executive vice president now owns 23,595 shares of the company’s stock, valued at approximately $2,004,631.20. The disclosure for this sale can be found here. Insiders sold a total of 109,506 shares of company stock valued at $9,412,050 in the last quarter. Corporate insiders own 27.80% of the company’s stock.
A number of analysts have issued reports on the company. ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. TheStreet raised AmerisourceBergen from a “c+” rating to a “b” rating in a report on Thursday, August 1st. Deutsche Bank assumed coverage on AmerisourceBergen in a report on Thursday, September 12th. They issued a “hold” rating and a $91.00 target price on the stock. Finally, Morgan Stanley lowered their target price on AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $87.38.
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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