Neuberger Berman Group LLC lowered its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,963,265 shares of the company’s stock after selling 32,607 shares during the period. Neuberger Berman Group LLC owned 0.90% of AmerisourceBergen worth $162,460,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of AmerisourceBergen by 3.2% in the 2nd quarter. Parallel Advisors LLC now owns 1,109 shares of the company’s stock valued at $104,000 after acquiring an additional 34 shares during the period. Stephens Inc. AR increased its position in shares of AmerisourceBergen by 1.5% in the 2nd quarter. Stephens Inc. AR now owns 5,141 shares of the company’s stock valued at $486,000 after acquiring an additional 77 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of AmerisourceBergen by 0.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,329 shares of the company’s stock valued at $1,165,000 after acquiring an additional 80 shares during the period. Pzena Investment Management LLC grew its position in AmerisourceBergen by 4.0% during the 2nd quarter. Pzena Investment Management LLC now owns 2,602 shares of the company’s stock worth $246,000 after purchasing an additional 100 shares during the period. Finally, Buckingham Asset Management LLC grew its position in AmerisourceBergen by 4.3% during the 2nd quarter. Buckingham Asset Management LLC now owns 2,447 shares of the company’s stock worth $231,000 after purchasing an additional 100 shares during the period. Institutional investors own 67.83% of the company’s stock.
Shares of AmerisourceBergen Corp. (NYSE ABC) traded up $1.14 during trading hours on Friday, hitting $95.32. 1,342,778 shares of the stock were exchanged, compared to its average volume of 1,324,400. AmerisourceBergen Corp. has a 1-year low of $71.90 and a 1-year high of $97.85. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $20,790.00, a PE ratio of 58.84, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.01. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. The business had revenue of $39.12 billion for the quarter, compared to analyst estimates of $40.10 billion. During the same period in the previous year, the business posted $1.30 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. equities research analysts forecast that AmerisourceBergen Corp. will post 6.08 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on ABC shares. Zacks Investment Research cut AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Robert W. Baird restated a “buy” rating and set a $96.00 target price on shares of AmerisourceBergen in a research report on Monday, November 6th. Cowen raised shares of AmerisourceBergen from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 10th. Mizuho set a $92.00 price target on shares of AmerisourceBergen and gave the company a “hold” rating in a research note on Tuesday, October 24th. Finally, Needham & Company LLC decreased their price target on shares of AmerisourceBergen from $93.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $95.96.
In other news, CFO Tim G. Guttman sold 11,600 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $74.28, for a total value of $861,648.00. Following the sale, the chief financial officer now directly owns 40,326 shares in the company, valued at $2,995,415.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $76.94, for a total transaction of $1,642,669.00. Following the completion of the sale, the chairman now owns 260,226 shares in the company, valued at $20,021,788.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,823 shares of company stock worth $16,666,738. Company insiders own 27.40% of the company’s stock.
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AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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