Tim G. Guttman Sells 11,600 Shares of AmerisourceBergen Corp. (ABC) Stock

AmerisourceBergen Corp. (NYSE:ABC) CFO Tim G. Guttman sold 11,600 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $93.40, for a total value of $1,083,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AmerisourceBergen Corp. (NYSE ABC) opened at $95.32 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.48 and a current ratio of 0.91. The firm has a market capitalization of $20,790.00, a P/E ratio of 58.84, a PEG ratio of 1.63 and a beta of 0.99. AmerisourceBergen Corp. has a 52 week low of $71.90 and a 52 week high of $97.85.

AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.01. The business had revenue of $39.12 billion during the quarter, compared to the consensus estimate of $40.10 billion. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 EPS. research analysts anticipate that AmerisourceBergen Corp. will post 6.08 earnings per share for the current year.

Several equities research analysts have commented on the company. Zacks Investment Research lowered AmerisourceBergen from a “buy” rating to a “hold” rating in a research report on Friday. Leerink Swann set a $105.00 price objective on AmerisourceBergen and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Group set a $85.00 price objective on AmerisourceBergen and gave the stock a “hold” rating in a research report on Sunday, October 29th. Needham & Company LLC upped their price objective on AmerisourceBergen from $86.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Finally, Evercore ISI assumed coverage on AmerisourceBergen in a research report on Thursday. They issued an “outperform” rating and a $105.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. AmerisourceBergen currently has an average rating of “Buy” and an average price target of $95.96.

Several hedge funds have recently made changes to their positions in the company. Burgundy Asset Management Ltd. raised its stake in shares of AmerisourceBergen by 1.9% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,698,948 shares of the company’s stock worth $223,338,000 after buying an additional 49,825 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of AmerisourceBergen during the 3rd quarter worth approximately $364,000. Coastline Trust Co raised its stake in shares of AmerisourceBergen by 37.2% during the 3rd quarter. Coastline Trust Co now owns 2,950 shares of the company’s stock worth $244,000 after buying an additional 800 shares during the period. Gyroscope Capital Management Group LLC raised its stake in shares of AmerisourceBergen by 9.3% during the 3rd quarter. Gyroscope Capital Management Group LLC now owns 67,695 shares of the company’s stock worth $5,602,000 after buying an additional 5,773 shares during the period. Finally, IFM Investors Pty Ltd acquired a new position in shares of AmerisourceBergen during the 3rd quarter worth approximately $406,000. 67.83% of the stock is owned by institutional investors and hedge funds.

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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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