AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $82.53, for a total transaction of $1,762,015.50. Following the transaction, the chairman now directly owns 287,925 shares of the company’s stock, valued at $23,762,450.25. The sale was disclosed in a document filed with the SEC, which is available through this link.
AmerisourceBergen Corporation (ABC) opened at $87.42 on Tuesday. AmerisourceBergen Corporation has a fifty-two week low of $71.90 and a fifty-two week high of $97.85. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48. The company has a market cap of $18,526.06, a PE ratio of 14.42, a PEG ratio of 1.47 and a beta of 1.00.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The firm had revenue of $39.12 billion for the quarter, compared to the consensus estimate of $40.10 billion. AmerisourceBergen had a net margin of 0.27% and a return on equity of 56.29%. AmerisourceBergen’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.30 EPS. analysts anticipate that AmerisourceBergen Corporation will post 6.06 earnings per share for the current fiscal year.
Several research analysts have weighed in on the stock. Robert W. Baird set a $99.00 price objective on shares of AmerisourceBergen and gave the stock a “buy” rating in a report on Friday. Deutsche Bank started coverage on shares of AmerisourceBergen in a report on Monday. They issued a “buy” rating and a $97.00 price target for the company. Morgan Stanley lowered shares of AmerisourceBergen from an “overweight” rating to an “equal weight” rating in a report on Thursday, September 14th. Zacks Investment Research lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, Needham & Company LLC set a $93.00 price target on shares of AmerisourceBergen and gave the company a “buy” rating in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. AmerisourceBergen presently has an average rating of “Buy” and a consensus target price of $91.95.
A number of large investors have recently modified their holdings of ABC. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 2,776,287 shares during the last quarter. Janus Henderson Group PLC lifted its position in AmerisourceBergen by 660.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,574,746 shares of the company’s stock valued at $243,392,000 after purchasing an additional 2,236,319 shares during the last quarter. Harding Loevner LP lifted its position 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 purchasing an additional 1,496,761 shares during the last quarter. Wells Fargo & Company MN lifted its position in AmerisourceBergen by 42.9% in the 2nd quarter. Wells Fargo & Company MN now owns 3,344,441 shares of the company’s stock valued at $316,149,000 after purchasing an additional 1,003,327 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in AmerisourceBergen in the 3rd quarter valued at about $75,681,000. Hedge funds and other institutional investors own 67.83% of the company’s stock.
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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