Investors Buy Shares of AmerisourceBergen Corp. (ABC) on Weakness
Traders purchased shares of AmerisourceBergen Corp. (NYSE:ABC) on weakness during trading hours on Thursday. $35.67 million flowed into the stock on the tick-up and $24.05 million flowed out of the stock on the tick-down, for a money net flow of $11.62 million into the stock. Of all companies tracked, AmerisourceBergen Corp. had the 20th highest net in-flow for the day. AmerisourceBergen Corp. traded down ($0.91) for the day and closed at $88.98
A number of brokerages have recently weighed in on ABC. Argus restated a “buy” rating on shares of AmerisourceBergen Corp. in a research note on Saturday, June 4th. Zacks Investment Research upgraded AmerisourceBergen Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Barclays PLC lifted their price objective on AmerisourceBergen Corp. from $83.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Leerink Swann reiterated a “buy” rating on shares of AmerisourceBergen Corp. in a research report on Wednesday. Finally, Avondale Partners started coverage on AmerisourceBergen Corp. in a research report on Monday, April 18th. They issued an “outperform” rating and a $111.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $99.43.
The stock has a market cap of $19.19 billion and a PE ratio of 12.00. The company’s 50 day moving average is $82.24 and its 200-day moving average is $83.70.
AmerisourceBergen Corp. (NYSE:ABC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.10. The company earned $36.90 billion during the quarter, compared to analyst estimates of $36.57 billion. During the same period in the previous year, the company posted $1.20 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that AmerisourceBergen Corp. will post $5.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.53%.
Several large investors recently modified their holdings of the stock. KDI Capital Partners LLC boosted its stake in shares of AmerisourceBergen Corp. by 68.7% in the fourth quarter. KDI Capital Partners LLC now owns 102,607 shares of the company’s stock valued at $10,641,000 after buying an additional 41,792 shares during the last quarter. Airain ltd boosted its stake in shares of AmerisourceBergen Corp. by 522.2% in the fourth quarter. Airain ltd now owns 115,971 shares of the company’s stock valued at $12,027,000 after buying an additional 97,333 shares during the last quarter. KBC Group NV boosted its stake in shares of AmerisourceBergen Corp. by 7.7% in the fourth quarter. KBC Group NV now owns 204,457 shares of the company’s stock valued at $21,204,000 after buying an additional 14,618 shares during the last quarter. Affinity Investment Advisors LLC bought a new stake in shares of AmerisourceBergen Corp. during the fourth quarter valued at $3,941,000. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of AmerisourceBergen Corp. by 66.7% in the fourth quarter. Catalyst Capital Advisors LLC now owns 50,000 shares of the company’s stock valued at $5,186,000 after buying an additional 20,000 shares during the last quarter.
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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