Richard P Slaughter Associates Inc Boosts Stock Holdings in AmerisourceBergen Co. (NYSE:ABC)


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Richard P Slaughter Associates Inc increased its position in shares of AmerisourceBergen Co. (NYSE:ABC) by 2.6% in the first quarter, HoldingsChannel.com reports. The firm owned 15,342 shares of the company’s stock after acquiring an additional 382 shares during the quarter. Richard P Slaughter Associates Inc’s holdings in AmerisourceBergen were worth $1,811,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Duality Advisers LP boosted its stake in AmerisourceBergen by 118.1% during the 4th quarter. Duality Advisers LP now owns 78,508 shares of the company’s stock worth $7,675,000 after purchasing an additional 42,508 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of AmerisourceBergen by 2.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 283,425 shares of the company’s stock worth $27,708,000 after acquiring an additional 5,718 shares in the last quarter. Beutel Goodman & Co Ltd. raised its holdings in AmerisourceBergen by 5.9% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,290,254 shares of the company’s stock worth $223,895,000 after purchasing an additional 127,523 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of AmerisourceBergen in the first quarter valued at about $1,381,000. Finally, NN Investment Partners Holdings N.V. increased its position in AmerisourceBergen by 12.3% during the 4th quarter. NN Investment Partners Holdings N.V. now owns 16,037 shares of the company’s stock worth $1,567,000 after purchasing an additional 1,762 shares in the last quarter. Hedge funds and other institutional investors own 63.35% of the company’s stock.

In related news, Director Henry Wadsworth Mcgee III sold 5,801 shares of the business’s stock in a transaction that occurred on Friday, March 5th. The stock was sold at an average price of $105.01, for a total value of $609,163.01. Following the completion of the sale, the director now directly owns 11,487 shares in the company, valued at $1,206,249.87. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gina Clark sold 9,013 shares of the firm’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $117.94, for a total value of $1,062,993.22. The disclosure for this sale can be found here. Insiders have sold a total of 75,507 shares of company stock worth $8,617,805 over the last three months. Insiders own 28.30% of the company’s stock.

ABC stock traded up $1.04 during trading on Friday, hitting $119.04. The company had a trading volume of 1,197,228 shares, compared to its average volume of 1,182,302. The firm has a 50-day moving average price of $112.66 and a 200-day moving average price of $104.74. The stock has a market cap of $24.37 billion, a price-to-earnings ratio of -7.09, a PEG ratio of 1.13 and a beta of 0.57. AmerisourceBergen Co. has a 12 month low of $81.51 and a 12 month high of $120.54. The company has a quick ratio of 0.60, a current ratio of 0.98 and a debt-to-equity ratio of 0.91.

AmerisourceBergen (NYSE:ABC) last posted its earnings results on Wednesday, February 3rd. The company reported $2.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.24. The company had revenue of $52.50 billion for the quarter, compared to analyst estimates of $50.49 billion. AmerisourceBergen had a negative net margin of 1.80% and a positive return on equity of 65.93%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $1.76 earnings per share. Equities analysts expect that AmerisourceBergen Co. will post 8.38 EPS for the current year.

ABC has been the subject of a number of research reports. Cowen boosted their price target on AmerisourceBergen from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 8th. Bank of America upgraded AmerisourceBergen from an “underperform” rating to a “neutral” rating in a report on Wednesday, January 6th. Deutsche Bank Aktiengesellschaft upped their price objective on AmerisourceBergen from $111.00 to $115.00 and gave the stock a “hold” rating in a research note on Thursday, January 7th. Morgan Stanley increased their price target on AmerisourceBergen from $130.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, February 8th. Finally, Mizuho lifted their target price on AmerisourceBergen from $104.00 to $114.00 and gave the stock a “neutral” rating in a report on Tuesday, February 9th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $121.67.

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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