AmerisourceBergen Corp. (NYSE:ABC) Shares Purchased by Wedge Capital Management L L P NC

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Wedge Capital Management L L P NC increased its stake in AmerisourceBergen Corp. (NYSE:ABC) by 19.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 480,859 shares of the company’s stock after acquiring an additional 76,920 shares during the quarter. Wedge Capital Management L L P NC’s holdings in AmerisourceBergen were worth $40,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FinTrust Capital Advisors LLC lifted its stake in AmerisourceBergen by 27.5% in the third quarter. FinTrust Capital Advisors LLC now owns 571 shares of the company’s stock worth $47,000 after acquiring an additional 123 shares during the last quarter. Pathstone Family Office LLC increased its holdings in shares of AmerisourceBergen by 67.7% in the 2nd quarter. Pathstone Family Office LLC now owns 312 shares of the company’s stock valued at $27,000 after purchasing an additional 126 shares in the last quarter. Citizens Financial Group Inc RI lifted its stake in shares of AmerisourceBergen by 28.0% in the third quarter. Citizens Financial Group Inc RI now owns 581 shares of the company’s stock valued at $47,000 after purchasing an additional 127 shares during the period. Donaldson Capital Management LLC lifted its stake in shares of AmerisourceBergen by 0.9% in the third quarter. Donaldson Capital Management LLC now owns 15,207 shares of the company’s stock valued at $1,252,000 after purchasing an additional 130 shares during the period. Finally, Atlas Capital Advisors LLC boosted its holdings in AmerisourceBergen by 3.2% during the third quarter. Atlas Capital Advisors LLC now owns 4,970 shares of the company’s stock worth $409,000 after buying an additional 155 shares in the last quarter. 66.74% of the stock is owned by institutional investors.

In related news, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $86.08, for a total transaction of $1,713,422.40. Following the sale, the chief executive officer now owns 154,484 shares of the company’s stock, valued at $13,297,982.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John G. Chou sold 13,997 shares of AmerisourceBergen stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $86.07, for a total value of $1,204,721.79. Over the last three months, insiders have sold 64,724 shares of company stock valued at $5,561,840. Corporate insiders own 27.80% of the company’s stock.

Several research analysts have weighed in on the stock. Argus restated a “buy” rating and set a $110.00 target price on shares of AmerisourceBergen in a research report on Monday, November 18th. TheStreet upgraded shares of AmerisourceBergen from a “c+” rating to a “b-” rating in a research report on Friday, December 6th. Finally, ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. AmerisourceBergen has an average rating of “Hold” and a consensus target price of $89.67.

Shares of NYSE ABC opened at $91.37 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.58 and a debt-to-equity ratio of 1.45. The company’s 50-day moving average price is $86.16 and its 200 day moving average price is $85.94. AmerisourceBergen Corp. has a 52 week low of $70.55 and a 52 week high of $94.75. The stock has a market cap of $18.29 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.59 and a beta of 0.96.

AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, November 7th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.03. AmerisourceBergen had a net margin of 0.48% and a return on equity of 48.84%. The company had revenue of $45.64 billion during the quarter, compared to analysts’ expectations of $45.15 billion. During the same quarter in the previous year, the business posted $1.45 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that AmerisourceBergen Corp. will post 7.52 earnings per share for the current year.

AmerisourceBergen Company 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.

Further Reading: Diversification in Investing

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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