Sumitomo Mitsui Trust Holdings Inc. lowered its position in shares of AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) by 5.7% during the third quarter, Holdings Channel reports. The fund owned 619,275 shares of the company’s stock after selling 37,315 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in AmerisourceBergen Corporation (Holding Co) were worth $50,025,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. HealthInvest Partners AB acquired a new position in AmerisourceBergen Corporation (Holding Co) during the second quarter worth approximately $12,691,000. Channing Capital Management LLC boosted its position in AmerisourceBergen Corporation (Holding Co) by 17.5% in the second quarter. Channing Capital Management LLC now owns 186,898 shares of the company’s stock worth $14,825,000 after buying an additional 27,866 shares during the period. Concert Wealth Management Inc. boosted its position in AmerisourceBergen Corporation (Holding Co) by 13.2% in the second quarter. Concert Wealth Management Inc. now owns 6,674 shares of the company’s stock worth $536,000 after buying an additional 777 shares during the period. First Niagara Bank boosted its position in AmerisourceBergen Corporation (Holding Co) by 3.9% in the second quarter. First Niagara Bank now owns 21,251 shares of the company’s stock worth $1,686,000 after buying an additional 798 shares during the period. Finally, Haverford Trust Co. boosted its position in AmerisourceBergen Corporation (Holding Co) by 4.4% in the second quarter. Haverford Trust Co. now owns 431,842 shares of the company’s stock worth $34,254,000 after buying an additional 18,322 shares during the period. Hedge funds and other institutional investors own 68.25% of the company’s stock.

Institutional Ownership by Quarter for AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

AmerisourceBergen Corporation (NYSE:ABC) opened at 84.62 on Friday. The firm has a 50-day moving average price of $79.77 and a 200 day moving average price of $81.94. AmerisourceBergen Corporation has a one year low of $68.38 and a one year high of $93.34. The company has a market cap of $18.62 billion, a price-to-earnings ratio of 13.39 and a beta of 0.81.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.07. AmerisourceBergen Corporation (Holding Co) had a return on equity of 68.70% and a net margin of 0.97%. The business had revenue of $37.60 billion for the quarter, compared to the consensus estimate of $37.97 billion. During the same quarter last year, the business posted $1.21 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities analysts expect that AmerisourceBergen Corporation will post $5.75 earnings per share for the current fiscal year.

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A number of brokerages have issued reports on ABC. Bank of America Corporation raised AmerisourceBergen Corporation (Holding Co) from a “neutral” rating to a “buy” rating and set a $94.00 target price for the company in a report on Thursday. Mizuho raised AmerisourceBergen Corporation (Holding Co) from a “neutral” rating to a “buy” rating and set a $83.00 target price for the company in a report on Wednesday, November 9th. Leerink Swann cut AmerisourceBergen Corporation (Holding Co) from an “outperform” rating to a “market perform” rating and set a $75.00 target price for the company. in a report on Friday, November 4th. Morgan Stanley raised AmerisourceBergen Corporation (Holding Co) from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $84.00 to $86.00 in a report on Thursday, November 10th. Finally, TheStreet raised AmerisourceBergen Corporation (Holding Co) from a “hold” rating to a “buy” rating in a report on Thursday, December 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. AmerisourceBergen Corporation (Holding Co) has a consensus rating of “Hold” and an average target price of $93.85.

In other AmerisourceBergen Corporation (Holding Co) news, Chairman Steven H. Collis sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $69.85, for a total transaction of $1,047,750.00. Following the sale, the chairman now owns 231,252 shares in the company, valued at $16,152,952.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.90% of the company’s stock.

About AmerisourceBergen Corporation (Holding Co)

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.

5 Day Chart for NYSE:ABC

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