Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of AmerisourceBergen Corp. (NYSE:ABC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,500 shares of the company’s stock, valued at approximately $130,000.

A number of other large investors also recently made changes to their positions in the stock. Elmwood Wealth Management Inc. raised its stake in AmerisourceBergen by 8.9% during the 3rd quarter. Elmwood Wealth Management Inc. now owns 7,533 shares of the company’s stock worth $695,000 after acquiring an additional 618 shares in the last quarter. Parsons Capital Management Inc. RI increased its stake in AmerisourceBergen by 5.7% in the second quarter. Parsons Capital Management Inc. RI now owns 11,609 shares of the company’s stock valued at $990,000 after purchasing an additional 621 shares during the period. Donald L. Hagan LLC increased its stake in AmerisourceBergen by 3.9% in the second quarter. Donald L. Hagan LLC now owns 16,681 shares of the company’s stock valued at $1,422,000 after purchasing an additional 622 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in AmerisourceBergen by 9.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,520 shares of the company’s stock valued at $641,000 after purchasing an additional 660 shares during the period. Finally, Summit X LLC increased its stake in AmerisourceBergen by 19.8% in the first quarter. Summit X LLC now owns 4,008 shares of the company’s stock valued at $342,000 after purchasing an additional 662 shares during the period. Hedge funds and other institutional investors own 66.67% of the company’s stock.

ABC has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. ValuEngine lowered shares of AmerisourceBergen from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Mizuho restated a “neutral” rating on shares of AmerisourceBergen in a research note on Wednesday, September 19th. Robert W. Baird lowered shares of AmerisourceBergen from an “outperform” rating to a “neutral” rating in a research note on Friday, July 20th. Finally, Morgan Stanley dropped their price objective on shares of AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $101.80.

Shares of NYSE:ABC opened at $88.48 on Friday. The stock has a market capitalization of $19.95 billion, a PE ratio of 15.05, a PEG ratio of 1.44 and a beta of 1.02. The company has a current ratio of 0.94, a quick ratio of 0.51 and a debt-to-equity ratio of 1.39. AmerisourceBergen Corp. has a fifty-two week low of $71.90 and a fifty-two week high of $106.27.

AmerisourceBergen (NYSE:ABC) last issued its earnings results on Thursday, August 2nd. The company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.08. The business had revenue of $43.14 billion for the quarter, compared to the consensus estimate of $43.05 billion. AmerisourceBergen had a net margin of 0.69% and a return on equity of 48.65%. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 earnings per share. On average, equities analysts predict that AmerisourceBergen Corp. will post 6.48 earnings per share for the current fiscal year.

In other news, EVP Kathy H. Gaddes sold 2,652 shares of AmerisourceBergen stock in a transaction dated Friday, July 20th. The shares were sold at an average price of $85.00, for a total value of $225,420.00. Following the sale, the executive vice president now owns 1,863 shares of the company’s stock, valued at $158,355. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dale Danilewitz sold 3,120 shares of AmerisourceBergen stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $81.67, for a total transaction of $254,810.40. Following the completion of the sale, the executive vice president now directly owns 3,120 shares in the company, valued at approximately $254,810.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,074 shares of company stock worth $7,745,452. Insiders own 27.30% of the company’s stock.

AmerisourceBergen Profile

AmerisourceBergen Corporation sources and distributes pharmaceutical products in the United States and internationally. Its Pharmaceutical Distribution segment distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, outsourced compounded sterile preparations, and related services to various healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and other alternate site pharmacies, and other customers.

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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