Traders Buy AmerisourceBergen Corp. (ABC) on Weakness
Traders bought shares of AmerisourceBergen Corp. (NYSE:ABC) on weakness during trading 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
Several research firms have issued reports on ABC. Zacks Investment Research upgraded shares of AmerisourceBergen Corp. from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Raymond James Financial Inc. lowered shares of AmerisourceBergen Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 1st. Royal Bank Of Canada lifted their price target on shares of AmerisourceBergen Corp. from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, May 6th. Argus restated a “buy” rating on shares of AmerisourceBergen Corp. in a research report on Saturday, June 4th. Finally, FBR & Co lowered their price objective on shares of AmerisourceBergen Corp. from $100.00 to $84.00 and set a “market perform” rating on the stock in a research report 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. AmerisourceBergen Corp. currently has a consensus rating of “Hold” and an average price target of $99.43.
The stock has a 50-day moving average of $82.63 and a 200-day moving average of $83.74. The company has a market cap of $19.27 billion and a P/E ratio of 12.05.
AmerisourceBergen Corp. (NYSE:ABC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.10. During the same period in the prior year, the company earned $1.20 EPS. The company had revenue of $36.90 billion for the quarter, compared to the consensus estimate of $36.57 billion. The firm’s revenue was up 7.8% on a year-over-year basis. Analysts forecast that AmerisourceBergen Corp. will post $5.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Monday, August 22nd will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, August 18th.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. 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 worth $12,027,000 after buying an additional 97,333 shares during the period. KDI Capital Partners LLC increased its position in AmerisourceBergen Corp. by 68.7% in the fourth quarter. KDI Capital Partners LLC now owns 102,607 shares of the company’s stock worth $10,641,000 after buying an additional 41,792 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in AmerisourceBergen Corp. by 4.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 27,175 shares of the company’s stock worth $2,818,000 after buying an additional 1,037 shares during the period. EQIS Capital Management increased its position in AmerisourceBergen Corp. by 183.0% in the fourth quarter. EQIS Capital Management now owns 15,244 shares of the company’s stock worth $1,581,000 after buying an additional 9,858 shares during the period. Finally, Affinity Investment Advisors LLC acquired a new position in AmerisourceBergen Corp. during the fourth quarter worth $3,941,000.
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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