DnB Asset Management AS increased its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 280.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 73,283 shares of the company’s stock after purchasing an additional 54,035 shares during the period. DnB Asset Management AS’s holdings in AmerisourceBergen were worth $6,729,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of ABC. Vanguard Group Inc. raised its holdings in AmerisourceBergen by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,653,245 shares of the company’s stock valued at $1,479,701,000 after acquiring an additional 304,628 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in AmerisourceBergen by 107.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,363,429 shares of the company’s stock valued at $434,385,000 after acquiring an additional 2,776,287 shares in the last quarter. Wells Fargo & Company MN raised its holdings in AmerisourceBergen by 11.4% in the 3rd quarter. Wells Fargo & Company MN now owns 3,726,377 shares of the company’s stock valued at $308,358,000 after acquiring an additional 381,936 shares in the last quarter. FIL Ltd raised its holdings in AmerisourceBergen by 14.4% in the 2nd quarter. FIL Ltd now owns 3,477,157 shares of the company’s stock valued at $328,696,000 after acquiring an additional 437,132 shares in the last quarter. Finally, Harding Loevner LP raised its holdings in AmerisourceBergen by 89.6% in the 3rd quarter. Harding Loevner LP now owns 3,166,794 shares of the company’s stock valued at $134,939,000 after acquiring an additional 1,496,761 shares in the last quarter. 67.83% of the stock is owned by institutional investors and hedge funds.
ABC has been the subject of several recent research reports. Morgan Stanley cut AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 14th. Royal Bank of Canada initiated coverage on AmerisourceBergen in a report on Tuesday, September 19th. They issued a “sector perform” rating and a $87.00 price target for the company. Zacks Investment Research cut AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Robert W. Baird raised AmerisourceBergen from a “neutral” rating to an “outperform” rating and upped their price target for the company from $89.00 to $96.00 in a report on Thursday, October 5th. Finally, Cowen raised AmerisourceBergen from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $95.96.
In other news, insider Dale Danilewitz sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $74.69, for a total value of $138,699.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Steven H. Collis sold 21,350 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $76.94, for a total value 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 sold 203,823 shares of company stock worth $17,145,148. Corporate insiders own 27.40% of the company’s stock.
Shares of AmerisourceBergen Corp. (ABC) opened at $98.14 on Friday. AmerisourceBergen Corp. has a 12 month low of $71.90 and a 12 month high of $98.14. The firm has a market capitalization of $21,400.00, a P/E ratio of 60.58, a PEG ratio of 1.63 and a beta of 0.99. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.83.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The company had revenue of $39.12 billion for the quarter, compared to analyst estimates of $40.10 billion. During the same period in the prior year, the company posted $1.30 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. sell-side analysts predict that AmerisourceBergen Corp. will post 6.14 earnings per share for the current year.
AmerisourceBergen Company Profile
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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