Cardinal Capital Management Inc. lifted its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 158,880 shares of the company’s stock after purchasing an additional 22,960 shares during the quarter. AmerisourceBergen accounts for approximately 1.2% of Cardinal Capital Management Inc.’s holdings, making the stock its 29th largest position. Cardinal Capital Management Inc. owned approximately 0.07% of AmerisourceBergen worth $14,588,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Sun Life Financial INC boosted its stake in AmerisourceBergen by 15,000.0% during the second quarter. Sun Life Financial INC now owns 1,208 shares of the company’s stock valued at $114,000 after buying an additional 1,200 shares in the last quarter. D.A. Davidson & CO. boosted its stake in AmerisourceBergen by 29.0% during the second quarter. D.A. Davidson & CO. now owns 1,668 shares of the company’s stock valued at $157,000 after buying an additional 375 shares in the last quarter. Intl Fcstone Inc. bought a new position in AmerisourceBergen during the second quarter valued at about $201,000. Zeke Capital Advisors LLC bought a new position in AmerisourceBergen during the third quarter valued at about $210,000. Finally, Roberts Glore & Co. Inc. IL bought a new position in AmerisourceBergen during the third quarter valued at about $219,000. 67.83% of the stock is owned by institutional investors.
Several research analysts recently weighed in on the company. Zacks Investment Research raised AmerisourceBergen from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research note on Thursday. Needham & Company LLC raised their target price on AmerisourceBergen from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Leerink Swann set a $105.00 target price on AmerisourceBergen and gave the company a “buy” rating in a research note on Tuesday, January 2nd. Robert W. Baird set a $99.00 target price on AmerisourceBergen and gave the company a “buy” rating in a research note on Friday, December 1st. Finally, Cowen set a $107.00 target price on AmerisourceBergen and gave the company a “buy” rating in a research note on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $96.39.
AmerisourceBergen Corp. (ABC) traded up $1.75 during trading hours on Thursday, hitting $101.30. The company had a trading volume of 1,864,800 shares, compared to its average volume of 1,442,427. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.91 and a quick ratio of 0.48. AmerisourceBergen Corp. has a fifty-two week low of $71.90 and a fifty-two week high of $101.85. The firm has a market cap of $21,860.00, a price-to-earnings ratio of 62.53, a price-to-earnings-growth ratio of 1.69 and a beta of 0.99.
AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The business had revenue of $39.12 billion during the quarter, compared to analyst estimates of $40.10 billion. During the same quarter last year, the company posted $1.30 EPS. AmerisourceBergen’s revenue for the quarter was up 4.2% on a year-over-year basis. analysts anticipate that AmerisourceBergen Corp. will post 6.19 EPS for the current year.
In related news, Director Richard W. Gochnauer sold 2,000 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $96.54, for a total value of $193,080.00. Following the completion of the sale, the director now directly owns 12,947 shares of the company’s stock, valued at approximately $1,249,903.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven H. Collis sold 21,350 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total value of $1,642,669.00. Following the completion of the sale, the chairman now directly owns 260,226 shares of the company’s stock, valued at $20,021,788.44. The disclosure for this sale can be found here. Insiders sold a total of 203,823 shares of company stock valued at $17,145,148 in the last quarter. 27.40% of the stock is currently owned by corporate insiders.
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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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