AmerisourceBergen Corp. (ABC) Stake Maintained by Beck Mack & Oliver LLC
Beck Mack & Oliver LLC continued to hold its position in shares of AmerisourceBergen Corp. (NYSE:ABC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,560 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in AmerisourceBergen Corp. were worth $203,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of ABC. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in AmerisourceBergen Corp. during the second quarter worth $119,000. Kanaly Trust Co increased its position in AmerisourceBergen Corp. by 52.7% in the second quarter. Kanaly Trust Co now owns 1,920 shares of the company’s stock worth $152,000 after buying an additional 663 shares during the period. Breton Hill Capital Ltd. purchased a new position in AmerisourceBergen Corp. during the second quarter worth $206,000. HL Financial Services LLC increased its position in AmerisourceBergen Corp. by 1.2% in the second quarter. HL Financial Services LLC now owns 2,949 shares of the company’s stock worth $234,000 after buying an additional 34 shares during the period. Finally, Brookstone Capital Management purchased a new position in AmerisourceBergen Corp. during the second quarter worth $255,000. Institutional investors and hedge funds own 66.15% of the company’s stock.
Shares of AmerisourceBergen Corp. (NYSE:ABC) traded down 0.64% on Wednesday, hitting $80.57. The company had a trading volume of 1,106,656 shares. The firm has a market capitalization of $17.30 billion, a price-to-earnings ratio of 10.87 and a beta of 0.74. AmerisourceBergen Corp. has a 1-year low of $73.31 and a 1-year high of $105.81. The company has a 50 day moving average price of $83.07 and a 200 day moving average price of $82.69.
AmerisourceBergen Corp. (NYSE:ABC) last announced its earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.10. The business had revenue of $36.90 billion for 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 quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. On average, equities analysts forecast that AmerisourceBergen Corp. will post $5.55 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the company. Cleveland Research downgraded AmerisourceBergen Corp. from a “buy” rating to a “neutral” rating in a research report on Monday, October 10th. Leerink Swann reaffirmed a “buy” rating and set a $100.00 price target on shares of AmerisourceBergen Corp. in a research report on Friday, October 7th. Avondale Partners raised AmerisourceBergen Corp. from a “market perform” rating to an “outperform” rating in a report on Tuesday, October 4th. 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. Finally, 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. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $96.61.
In other news, insider Gina Clark sold 2,247 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $89.50, for a total value of $201,106.50. Following the completion of the transaction, the insider now directly owns 9,436 shares in the company, valued at approximately $844,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Steven H. Collis sold 15,000 shares of the company’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $79.59, for a total value of $1,193,850.00. Following the completion of the transaction, the chairman now owns 231,252 shares of the company’s stock, valued at $18,405,346.68. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.
AmerisourceBergen Corp. Company Profile
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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