Pacer Advisors Inc. decreased its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,755 shares of the company’s stock after selling 3,456 shares during the quarter. Pacer Advisors Inc.’s holdings in AmerisourceBergen were worth $5,414,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of ABC. Vanguard Group Inc. boosted its stake in AmerisourceBergen by 16.8% during the 2nd quarter. Vanguard Group Inc. now owns 18,910,594 shares of the company’s stock worth $1,612,318,000 after acquiring an additional 2,719,868 shares during the last quarter. BlackRock Inc. boosted its stake in AmerisourceBergen by 1.1% during the 2nd quarter. BlackRock Inc. now owns 12,325,863 shares of the company’s stock worth $1,050,903,000 after acquiring an additional 136,458 shares during the last quarter. Victory Capital Management Inc. boosted its stake in AmerisourceBergen by 9.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,769,023 shares of the company’s stock worth $236,087,000 after acquiring an additional 245,394 shares during the last quarter. Northern Trust Corp boosted its stake in AmerisourceBergen by 3.3% during the 2nd quarter. Northern Trust Corp now owns 2,514,818 shares of the company’s stock worth $214,414,000 after acquiring an additional 81,207 shares during the last quarter. Finally, Boston Partners lifted its stake in AmerisourceBergen by 2.5% in the second quarter. Boston Partners now owns 2,402,458 shares of the company’s stock valued at $204,879,000 after buying an additional 59,431 shares in the last quarter. Institutional investors own 65.95% of the company’s stock.
In other AmerisourceBergen news, EVP Gina Clark sold 7,800 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $84.96, for a total value of $662,688.00. Following the transaction, the executive vice president now directly owns 23,595 shares in the company, valued at $2,004,631.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John G. Chou sold 13,997 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $81.48, for a total transaction of $1,140,475.56. Following the completion of the transaction, the executive vice president now owns 65,782 shares in the company, valued at $5,359,917.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,506 shares of company stock worth $9,412,050. 27.80% of the stock is owned by corporate insiders.
A number of research analysts have weighed in on the stock. Deutsche Bank assumed coverage on shares of AmerisourceBergen in a research note on Thursday, September 12th. They issued a “hold” rating and a $91.00 price target on the stock. ValuEngine lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Tuesday, August 6th. Morgan Stanley cut their price target on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, September 6th. Finally, TheStreet raised shares of AmerisourceBergen from a “c+” rating to a “b” rating in a research note on Thursday, August 1st. Two investment 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’s stock. AmerisourceBergen has an average rating of “Hold” and an average target price of $87.38.
Shares of ABC opened at $81.96 on Friday. The company has a market cap of $17.23 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 1.34 and a beta of 1.00. AmerisourceBergen Corp. has a 1-year low of $69.36 and a 1-year high of $94.85. The company’s fifty day simple moving average is $83.35 and its 200 day simple moving average is $82.32. 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 (NYSE:ABC) last issued its earnings results on Thursday, August 1st. The company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.14. The business had revenue of $45.24 billion for the quarter, compared to the consensus estimate of $45.15 billion. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 earnings per share. As a group, research analysts forecast that AmerisourceBergen Corp. will post 7.05 earnings per share for the current year.
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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