Short Interest in AmerisourceBergen Corp. (ABC) Grows By 73.3%
AmerisourceBergen Corp. (NYSE:ABC) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 16,224,802 shares, an increase of 73.3% from the August 31st total of 9,361,224 shares. Currently, 9.0% of the shares of the company are short sold. Based on an average daily volume of 2,381,826 shares, the days-to-cover ratio is currently 6.8 days.
Several analysts recently commented on ABC shares. Argus reiterated a “buy” rating on shares of AmerisourceBergen Corp. in a research report on Saturday, June 4th. Bank of America Corp. reiterated a “neutral” rating on shares of AmerisourceBergen Corp. in a research report on Tuesday, June 7th. Zacks Investment Research upgraded shares of AmerisourceBergen Corp. from a “sell” rating to a “hold” rating and set a $94.00 price target for the company in a research report on Monday, July 11th. Evercore ISI reiterated a “hold” rating and issued a $93.50 price target on shares of AmerisourceBergen Corp. in a research report on Tuesday, August 2nd. Finally, FBR & Co upped their price target on shares of AmerisourceBergen Corp. from $84.00 to $90.00 and gave the company a “mkt perform” rating in a research report on Wednesday, August 3rd. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. AmerisourceBergen Corp. currently has a consensus rating of “Hold” and an average target price of $97.50.
Shares of AmerisourceBergen Corp. (NYSE:ABC) opened at 80.78 on Friday. The firm has a market capitalization of $17.35 billion, a PE ratio of 10.90 and a beta of 0.75. The company has a 50-day moving average of $85.85 and a 200-day moving average of $83.29. AmerisourceBergen Corp. has a 52 week low of $73.31 and a 52 week high of $105.81.
AmerisourceBergen Corp. (NYSE:ABC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.10. The business earned $36.90 billion during the quarter, compared to analysts’ expectations of $36.57 billion. AmerisourceBergen Corp. had a return on equity of 83.93% and a net margin of 1.14%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS. On average, equities analysts forecast that AmerisourceBergen Corp. will post $5.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 22nd were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.36 annualized dividend and a yield of 1.68%. AmerisourceBergen Corp.’s payout ratio is currently 18.73%.
In other AmerisourceBergen Corp. news, Director Lon R. Greenberg purchased 4,000 shares of AmerisourceBergen Corp. stock in a transaction that occurred on Tuesday, August 9th. The stock was purchased at an average price of $88.59 per share, for a total transaction of $354,360.00. Following the transaction, the director now directly owns 9,500 shares in the company, valued at $841,605. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Wadsworth Mcgee III sold 3,351 shares of the company’s stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $82.10, for a total transaction of $275,117.10. Following the completion of the sale, the director now owns 10,901 shares of the company’s stock, valued at approximately $894,972.10. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Synovus Financial Corp boosted its stake in AmerisourceBergen Corp. by 0.4% in the second quarter. Synovus Financial Corp now owns 5,431 shares of the company’s stock valued at $430,000 after buying an additional 22 shares during the last quarter. Bruderman Asset Management LLC boosted its stake in AmerisourceBergen Corp. by 1.1% in the second quarter. Bruderman Asset Management LLC now owns 2,620 shares of the company’s stock valued at $208,000 after buying an additional 29 shares during the last quarter. Investors Capital Advisory Services boosted its stake in AmerisourceBergen Corp. by 1.1% in the second quarter. Investors Capital Advisory Services now owns 2,860 shares of the company’s stock valued at $226,000 after buying an additional 30 shares during the last quarter. HM Payson & Co. raised its position in AmerisourceBergen Corp. by 0.9% in the second quarter. HM Payson & Co. now owns 3,438 shares of the company’s stock worth $272,000 after buying an additional 30 shares during the period. Finally, HL Financial Services LLC raised its position in AmerisourceBergen Corp. by 1.2% in the second quarter. HL Financial Services LLC now owns 2,949 shares of the company’s stock worth $234,000 after buying an additional 34 shares during the period. 66.19% of the stock is owned by institutional investors and hedge funds.
AmerisourceBergen Corp. Company Profile
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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