AmerisourceBergen Corp. (ABC) Shares Bought by Cardinal Capital Management Inc.
Cardinal Capital Management Inc. increased its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 16.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,880 shares of the company’s stock after acquiring an additional 22,960 shares during the period. AmerisourceBergen comprises about 1.2% of Cardinal Capital Management Inc.’s holdings, making the stock its 29th largest holding. Cardinal Capital Management Inc.’s holdings in AmerisourceBergen were worth $14,588,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of AmerisourceBergen by 45.1% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 52,794 shares of the company’s stock worth $4,848,000 after purchasing an additional 16,400 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of AmerisourceBergen by 0.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 600,568 shares of the company’s stock worth $55,145,000 after purchasing an additional 1,616 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of AmerisourceBergen by 9.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,580 shares of the company’s stock worth $512,000 after purchasing an additional 500 shares in the last quarter. National Pension Service raised its stake in shares of AmerisourceBergen by 10.1% during the 4th quarter. National Pension Service now owns 182,680 shares of the company’s stock worth $16,774,000 after purchasing an additional 16,773 shares in the last quarter. Finally, USS Investment Management Ltd raised its stake in shares of AmerisourceBergen by 32.7% during the 4th quarter. USS Investment Management Ltd now owns 299,600 shares of the company’s stock worth $27,511,000 after purchasing an additional 73,800 shares in the last quarter. 67.83% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on ABC shares. Needham & Company LLC set a $93.00 price target on AmerisourceBergen and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Deutsche Bank started coverage on AmerisourceBergen in a research note on Monday, December 4th. They set a “buy” rating and a $97.00 price target for the company. Robert W. Baird set a $99.00 price target on AmerisourceBergen and gave the stock a “buy” rating in a research note on Friday, December 1st. ValuEngine raised AmerisourceBergen from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, Cowen set a $107.00 price target on AmerisourceBergen and gave the stock a “buy” rating in a research note on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $96.39.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.01. AmerisourceBergen had a return on equity of 56.29% and a net margin of 0.27%. The business had revenue of $39.12 billion for the quarter, compared to the consensus estimate of $40.10 billion. During the same period last year, the business earned $1.30 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. sell-side analysts predict that AmerisourceBergen Corp. will post 6.19 earnings per share for the current fiscal year.
In other AmerisourceBergen news, Chairman Steven H. Collis sold 21,350 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $76.94, for a total value of $1,642,669.00. Following the sale, the chairman now owns 260,226 shares of the company’s stock, valued at approximately $20,021,788.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Tim G. Guttman sold 11,600 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $74.28, for a total value of $861,648.00. Following the completion of the sale, the chief financial officer now directly owns 40,326 shares in the company, valued at approximately $2,995,415.28. The disclosure for this sale can be found here. Insiders sold a total of 203,823 shares of company stock worth $17,145,148 over the last three months. 27.40% of the stock is owned by company insiders.
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AmerisourceBergen Company Profile
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers.
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