AmerisourceBergen Corp. (NYSE:ABC) Director Henry Wadsworth Mcgee III sold 3,351 shares of AmerisourceBergen Corp. stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $82.10, for a total value of $275,117.10. Following the completion of the sale, the director now directly owns 10,901 shares of the company’s stock, valued at approximately $894,972.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
AmerisourceBergen Corp. (NYSE:ABC) opened at 82.72 on Tuesday. The stock has a market capitalization of $17.76 billion, a PE ratio of 11.16 and a beta of 0.75. AmerisourceBergen Corp. has a 52 week low of $73.31 and a 52 week high of $105.81. The firm has a 50-day moving average price of $86.58 and a 200-day moving average price of $83.40.
AmerisourceBergen Corp. (NYSE:ABC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.10. The business earned $36.90 billion during the quarter, compared to analyst estimates of $36.57 billion. AmerisourceBergen Corp. had a return on equity of 83.93% and a net margin of 1.14%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company earned $1.20 EPS. Equities research analysts predict that AmerisourceBergen Corp. will post $5.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, August 18th. AmerisourceBergen Corp.’s payout ratio is 18.73%.
Several brokerages recently weighed in on ABC. Morgan Stanley reissued a “hold” rating and issued a $89.00 price objective on shares of AmerisourceBergen Corp. in a report on Monday, September 12th. Credit Suisse Group AG reissued a “buy” rating and issued a $98.00 price objective on shares of AmerisourceBergen Corp. in a report on Friday, August 26th. Leerink Swann lifted their target price on AmerisourceBergen Corp. to $100.00 and gave the company an “outperform” rating in a report on Friday, August 26th. Mizuho lifted their target price on AmerisourceBergen Corp. from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, August 11th. Finally, Zacks Investment Research lowered AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. AmerisourceBergen Corp. presently has an average rating of “Hold” and an average target price of $97.50.
Several large investors have recently bought and sold shares of ABC. Glenmede Trust Co. NA raised its stake in AmerisourceBergen Corp. by 11.8% in the first quarter. Glenmede Trust Co. NA now owns 222,974 shares of the company’s stock valued at $19,296,000 after buying an additional 23,448 shares during the last quarter. Sii Investments Inc. WI bought a new stake in AmerisourceBergen Corp. during the first quarter valued at about $352,000. Apex Capital Management raised its stake in AmerisourceBergen Corp. by 0.9% in the first quarter. Apex Capital Management now owns 5,297 shares of the company’s stock valued at $458,000 after buying an additional 47 shares during the last quarter. Commonwealth Equity Services Inc raised its stake in AmerisourceBergen Corp. by 84.8% in the first quarter. Commonwealth Equity Services Inc now owns 23,908 shares of the company’s stock valued at $2,069,000 after buying an additional 10,973 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. bought a new stake in AmerisourceBergen Corp. during the first quarter valued at about $371,000. 66.19% of the stock is owned by institutional investors and hedge funds.
About AmerisourceBergen Corp.
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers.
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