AmerisourceBergen Corp. (ABC) Short Interest Up 25.6% in September
AmerisourceBergen Corp. (NYSE:ABC) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 20,383,143 shares, a growth of 25.6% from the September 15th total of 16,224,802 shares. Based on an average daily volume of 2,186,728 shares, the short-interest ratio is currently 9.3 days. Approximately 11.3% of the company’s stock are short sold.
Shares of AmerisourceBergen Corp. (NYSE:ABC) opened at 79.79 on Monday. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of 10.76 and a beta of 0.74. The company has a 50-day moving average price of $83.39 and a 200 day moving average price of $82.83. AmerisourceBergen Corp. has a 52 week low of $73.31 and a 52 week high of $105.81.
AmerisourceBergen Corp. (NYSE:ABC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.27 by $0.10. AmerisourceBergen Corp. had a return on equity of 83.93% and a net margin of 1.14%. The firm earned $36.90 billion during the quarter, compared to analysts’ expectations of $36.57 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts expect that AmerisourceBergen Corp. will post $5.55 EPS for the current fiscal year.
In other news, insider John G. Chou sold 63,750 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $85.70, for a total transaction of $5,463,375.00. Following the completion of the sale, the insider now directly owns 104,043 shares of the company’s stock, valued at approximately $8,916,485.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lon R. Greenberg purchased 4,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The shares were purchased at an average cost of $88.59 per share, with a total value of $354,360.00. Following the completion of the purchase, the director now directly owns 9,500 shares in the company, valued at $841,605. The disclosure for this purchase can be found here. Insiders own 6.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sarasin & Partners LLP bought a new position in shares of AmerisourceBergen Corp. during the third quarter valued at approximately $97,639,000. National Pension Service raised its stake in AmerisourceBergen Corp. by 9.3% in the third quarter. National Pension Service now owns 144,678 shares of the company’s stock valued at $11,687,000 after buying an additional 12,336 shares in the last quarter. Private Bank & Trust Co. raised its stake in AmerisourceBergen Corp. by 59.4% in the third quarter. Private Bank & Trust Co. now owns 9,125 shares of the company’s stock valued at $737,000 after buying an additional 3,400 shares in the last quarter. Highland Capital Management LLC raised its stake in AmerisourceBergen Corp. by 1.2% in the third quarter. Highland Capital Management LLC now owns 4,806 shares of the company’s stock valued at $388,000 after buying an additional 57 shares in the last quarter. Finally, MSI Financial Services Inc raised its stake in AmerisourceBergen Corp. by 3.4% in the third quarter. MSI Financial Services Inc now owns 11,900 shares of the company’s stock valued at $961,000 after buying an additional 389 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. Leerink Swann raised their price target on AmerisourceBergen Corp. to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 26th. Morgan Stanley reissued a “hold” rating and issued a $89.00 price objective on shares of AmerisourceBergen Corp. in a research note on Monday, September 12th. Zacks Investment Research downgraded AmerisourceBergen Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Citigroup Inc. raised their price objective on AmerisourceBergen Corp. from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, Evercore ISI reissued a “hold” rating and issued a $93.50 price objective on shares of AmerisourceBergen Corp. in a research note on Tuesday, August 2nd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $96.61.
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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