Insider Selling: AmerisourceBergen Corp. (ABC) Insider Sells 20,276 Shares of Stock

AmerisourceBergen Corp. (NYSE:ABC) insider Lazarus Krikorian sold 20,276 shares of the company’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $90.37, for a total transaction of $1,832,342.12. Following the completion of the sale, the insider now directly owns 28,419 shares in the company, valued at approximately $2,568,225.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of ABC opened at $88.90 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.50 and a debt-to-equity ratio of 1.48. The company has a market cap of $19.18 billion, a P/E ratio of 13.70, a PEG ratio of 1.35 and a beta of 0.97. AmerisourceBergen Corp. has a 1 year low of $77.28 and a 1 year high of $106.27.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.01. The business had revenue of $43.30 billion for the quarter, compared to the consensus estimate of $43.27 billion. AmerisourceBergen had a net margin of 0.99% and a return on equity of 45.54%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 earnings per share. On average, equities analysts predict that AmerisourceBergen Corp. will post 6.81 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be paid a dividend of $0.40 per share. This is an increase from AmerisourceBergen’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.80%. AmerisourceBergen’s dividend payout ratio is presently 24.65%.

Several analysts have issued reports on ABC shares. Zacks Investment Research downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Mizuho reaffirmed a “neutral” rating on shares of AmerisourceBergen in a report on Wednesday, September 19th. ValuEngine raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, Royal Bank of Canada set a $90.00 price target on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday, November 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $100.87.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of AmerisourceBergen by 140.9% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,142 shares of the company’s stock valued at $105,000 after buying an additional 668 shares during the period. First Mercantile Trust Co. purchased a new position in shares of AmerisourceBergen during the second quarter valued at approximately $107,000. Financial Gravity Wealth Inc. lifted its stake in shares of AmerisourceBergen by 93.2% during the third quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock valued at $108,000 after buying an additional 605 shares during the period. Truvestments Capital LLC purchased a new position in shares of AmerisourceBergen during the third quarter valued at approximately $120,000. Finally, Centaurus Financial Inc. purchased a new position in shares of AmerisourceBergen during the second quarter valued at approximately $129,000. 64.73% of the stock is currently owned by institutional investors and hedge funds.

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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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