Bank of Nova Scotia Raises Position in AmerisourceBergen Corporation (Holding Co) (ABC)

Bank of Nova Scotia boosted its holdings in AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 277.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 335,567 shares of the company’s stock after acquiring an additional 246,776 shares during the period. Bank of Nova Scotia owned 0.15% of AmerisourceBergen Corporation (Holding Co) worth $31,721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in AmerisourceBergen Corporation (Holding Co) 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 during the last quarter. BlackRock Inc. grew its stake in AmerisourceBergen Corporation (Holding Co) by 1,139.3% in the 1st quarter. BlackRock Inc. now owns 12,673,530 shares of the company’s stock valued at $1,121,608,000 after acquiring an additional 11,650,881 shares during the last quarter. Fiduciary Management Inc. WI grew its stake in AmerisourceBergen Corporation (Holding Co) by 11.2% in the 1st quarter. Fiduciary Management Inc. WI now owns 6,151,621 shares of the company’s stock valued at $544,418,000 after acquiring an additional 617,723 shares during the last quarter. Franklin Resources Inc. grew its stake in AmerisourceBergen Corporation (Holding Co) by 23.1% in the 2nd quarter. Franklin Resources Inc. now owns 3,902,289 shares of the company’s stock valued at $368,884,000 after acquiring an additional 731,466 shares during the last quarter. Finally, FIL Ltd grew its stake in AmerisourceBergen Corporation (Holding Co) 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 during the last quarter. 67.64% of the stock is currently owned by hedge funds and other institutional investors.

AmerisourceBergen Corporation (NYSE ABC) traded up 0.08% on Wednesday, reaching $79.61. 187,377 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $80.91 and its 200 day moving average is $86.73. The stock has a market capitalization of $17.44 billion, a P/E ratio of 20.73 and a beta of 0.96. AmerisourceBergen Corporation has a 1-year low of $68.38 and a 1-year high of $97.85.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.06. The firm had revenue of $38.71 billion for the quarter, compared to analysts’ expectations of $39.13 billion. AmerisourceBergen Corporation (Holding Co) had a return on equity of 56.07% and a net margin of 0.56%. AmerisourceBergen Corporation (Holding Co)’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.37 EPS. Analysts expect that AmerisourceBergen Corporation will post $5.88 EPS for the current year.

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A number of equities research analysts recently commented on ABC shares. Morgan Stanley cut shares of AmerisourceBergen Corporation (Holding Co) from an “overweight” rating to an “equal weight” rating in a research note on Thursday, September 14th. ValuEngine cut shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub raised shares of AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Jefferies Group LLC reissued a “hold” rating and issued a $95.00 price objective on shares of AmerisourceBergen Corporation (Holding Co) in a research note on Wednesday, June 21st. Finally, Bank of America Corporation cut shares of AmerisourceBergen Corporation (Holding Co) from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $95.76 to $94.00 in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $91.95.

In related news, insider Gina Clark sold 1,273 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $80.94, for a total value of $103,036.62. Following the transaction, the insider now owns 10,830 shares of the company’s stock, valued at approximately $876,580.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peyton R. Howell sold 20,000 shares of AmerisourceBergen Corporation (Holding Co) stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $80.00, for a total value of $1,600,000.00. Following the completion of the transaction, the insider now directly owns 57,135 shares in the company, valued at approximately $4,570,800. The disclosure for this sale can be found here. Insiders sold a total of 64,728 shares of company stock worth $5,215,143 in the last three months. 27.40% of the stock is currently owned by company insiders.

AmerisourceBergen Corporation (Holding Co) 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.

Institutional Ownership by Quarter for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

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