AmerisourceBergen Corp. (ABC) Short Interest Down 20.7% in November
AmerisourceBergen Corp. (NYSE:ABC) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 15,905,897 shares, a decline of 20.7% from the October 31st total of 20,061,127 shares. Based on an average daily volume of 5,012,744 shares, the short-interest ratio is presently 3.2 days. Currently, 8.8% of the shares of the company are sold short.
ABC has been the subject of several recent analyst reports. Leerink Swann reissued a “buy” rating and issued a $100.00 price target on shares of AmerisourceBergen Corp. in a report on Friday, October 7th. Credit Suisse Group AG reissued a “buy” rating and issued a $98.00 price target on shares of AmerisourceBergen Corp. in a report on Friday, August 26th. Citigroup Inc. boosted their price target on shares of AmerisourceBergen Corp. from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Mizuho raised shares of AmerisourceBergen Corp. from a “neutral” rating to a “buy” rating and set a $83.00 price target for the company in a report on Wednesday, November 9th. Finally, Barclays PLC boosted their price target on shares of AmerisourceBergen Corp. from $83.00 to $89.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. AmerisourceBergen Corp. has a consensus rating of “Hold” and a consensus target price of $94.11.
AmerisourceBergen Corp. (NYSE:ABC) opened at 77.99 on Thursday. AmerisourceBergen Corp. has a 52-week low of $68.38 and a 52-week high of $105.81. The firm has a market cap of $17.17 billion, a PE ratio of 12.34 and a beta of 0.80. The firm has a 50-day moving average of $77.51 and a 200-day moving average of $80.99.
AmerisourceBergen Corp. (NYSE:ABC) last released its earnings results on Wednesday, November 2nd. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. AmerisourceBergen Corp. had a return on equity of 68.70% and a net margin of 0.97%. The company earned $37.60 billion during the quarter, compared to the consensus estimate of $37.97 billion. During the same quarter last year, the company earned $1.21 earnings per share. AmerisourceBergen Corp.’s quarterly revenue was up 5.9% compared to the same quarter last year. Equities analysts anticipate that AmerisourceBergen Corp. will post $5.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 5th. Shareholders of record on Monday, November 21st will be issued a $0.365 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $1.46 dividend on an annualized basis and a yield of 1.87%. This is an increase from AmerisourceBergen Corp.’s previous quarterly dividend of $0.34. AmerisourceBergen Corp.’s dividend payout ratio (DPR) is 23.03%.
In related news, insider Kathy H. Gaddes sold 681 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $88.15, for a total value of $60,030.15. Following the completion of the sale, the insider now owns 1,022 shares of the company’s stock, valued at approximately $90,089.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Henry Wadsworth Mcgee III sold 3,351 shares of the business’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $82.10, for a total transaction 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 disclosure for this sale can be found here. 6.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in ABC. Integrated Wealth Management increased its stake in AmerisourceBergen Corp. by 16.5% in the third quarter. Integrated Wealth Management now owns 1,265 shares of the company’s stock worth $102,000 after buying an additional 179 shares during the period. Acrospire Investment Management LLC increased its stake in AmerisourceBergen Corp. by 8.3% in the second quarter. Acrospire Investment Management LLC now owns 1,300 shares of the company’s stock worth $103,000 after buying an additional 100 shares during the period. IFP Advisors Inc increased its stake in AmerisourceBergen Corp. by 12.0% in the second quarter. IFP Advisors Inc now owns 1,374 shares of the company’s stock worth $109,000 after buying an additional 147 shares during the period. Apriem Advisors increased its stake in AmerisourceBergen Corp. by 460.0% in the third quarter. Apriem Advisors now owns 1,400 shares of the company’s stock worth $113,000 after buying an additional 1,150 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in AmerisourceBergen Corp. during the second quarter worth approximately $119,000. 63.44% of the stock is owned by institutional investors.
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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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