AmerisourceBergen Co. (NYSE:ABC) CEO Steven H. Collis Sells 20,913 Shares

AmerisourceBergen Co. (NYSE:ABC) CEO Steven H. Collis sold 20,913 shares of the stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $117.65, for a total transaction of $2,460,414.45. Following the completion of the sale, the chief executive officer now directly owns 209,984 shares of the company’s stock, valued at approximately $24,704,617.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ABC traded up $3.54 during trading hours on Thursday, reaching $120.94. 841,555 shares of the stock traded hands, compared to its average volume of 1,163,841. The firm has a market cap of $24.84 billion, a P/E ratio of -6.55, a price-to-earnings-growth ratio of 1.14 and a beta of 0.54. AmerisourceBergen Co. has a fifty-two week low of $92.00 and a fifty-two week high of $125.86. The business’s fifty day moving average price is $118.41.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Tuesday, May 4th. The company reported $2.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.48 by $0.05. The company had revenue of $49.15 billion during the quarter, compared to analyst estimates of $50.06 billion. AmerisourceBergen had a negative net margin of 1.91% and a positive return on equity of 277.60%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $2.40 EPS. On average, research analysts predict that AmerisourceBergen Co. will post 9.01 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Monday, May 17th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.46%. The ex-dividend date was Friday, May 14th. AmerisourceBergen’s dividend payout ratio is currently 22.28%.

A number of hedge funds have recently made changes to their positions in ABC. Regent Peak Wealth Advisors LLC acquired a new position in AmerisourceBergen during the 4th quarter worth $32,000. Truvestments Capital LLC bought a new position in shares of AmerisourceBergen in the 4th quarter worth about $35,000. KB Financial Partners LLC bought a new position in shares of AmerisourceBergen in the 1st quarter worth about $35,000. Parkside Financial Bank & Trust lifted its position in shares of AmerisourceBergen by 86.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 307 shares of the company’s stock worth $36,000 after buying an additional 142 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of AmerisourceBergen in the 1st quarter worth about $37,000. 64.00% of the stock is owned by institutional investors.

Separately, Barclays raised their price target on shares of AmerisourceBergen from $122.00 to $130.00 and gave the company an “equal weight” rating in a report on Thursday, May 6th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $122.50.

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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