Traders Buy AmerisourceBergen Corp. (ABC) on Weakness
Traders purchased shares of AmerisourceBergen Corp. (NYSE:ABC) on weakness during trading hours on Friday. $45.16 million flowed into the stock on the tick-up and $26.23 million flowed out of the stock on the tick-down, for a money net flow of $18.93 million into the stock. Of all stocks tracked, AmerisourceBergen Corp. had the 21st highest net in-flow for the day. AmerisourceBergen Corp. traded down ($0.12) for the day and closed at $88.85
Several analysts recently issued reports on ABC shares. Zacks Investment Research raised AmerisourceBergen Corp. from a “sell” rating to a “hold” rating in a report on Monday, May 2nd. Avondale Partners downgraded AmerisourceBergen Corp. from an “outperform” rating to a “market perform” rating in a report on Thursday, May 5th. FBR & Co lifted their target price on AmerisourceBergen Corp. from $84.00 to $100.00 and gave the company a “mkt perform” rating in a research note on Friday, May 6th. Royal Bank Of Canada lifted their target price on AmerisourceBergen Corp. from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, May 6th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of AmerisourceBergen Corp. in a research note on Friday, May 6th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $98.43.
The firm has a market cap of $19.08 billion and a price-to-earnings ratio of 11.99. The firm’s 50-day moving average price is $86.17 and its 200 day moving average price is $83.63.
AmerisourceBergen Corp. (NYSE:ABC) last announced its earnings results on Tuesday, August 2nd. The company reported $1.37 EPS for the quarter, topping 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. During the same period in the previous year, the firm earned $1.20 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Analysts expect that AmerisourceBergen Corp. will post $5.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Thursday, August 18th.
In other news, Director Lon R. Greenberg acquired 4,000 shares of AmerisourceBergen Corp. stock in a transaction on Tuesday, August 9th. The shares were purchased at an average price of $88.59 per share, with a total value of $354,360.00. Following the acquisition, the director now owns 9,500 shares in the company, valued at $841,605. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gina Clark sold 2,247 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $89.50, for a total value of $201,106.50. Following the transaction, the insider now directly owns 9,436 shares in the company, valued at approximately $844,522. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of the company. Trexquant Investment LP increased its position in AmerisourceBergen Corp. by 409.1% in the fourth quarter. Trexquant Investment LP now owns 11,200 shares of the company’s stock valued at $1,162,000 after buying an additional 9,000 shares in the last quarter. I.G. Investment Management LTD. increased its position in AmerisourceBergen Corp. by 26.2% in the fourth quarter. I.G. Investment Management LTD. now owns 30,328 shares of the company’s stock valued at $3,145,000 after buying an additional 6,296 shares in the last quarter. Matarin Capital Management LLC purchased a new position in AmerisourceBergen Corp. during the fourth quarter valued at about $3,336,000. KBC Group NV increased its position in 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 in the last quarter. Finally, Airain ltd increased its position in 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 in 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.