Insider Selling: AmerisourceBergen Corp. (ABC) Insider Sells 3,000 Shares of Stock
AmerisourceBergen Corp. (NYSE:ABC) insider Peyton R. Howell sold 3,000 shares of AmerisourceBergen stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $91.60, for a total transaction of $274,800.00. Following the sale, the insider now directly owns 49,189 shares of the company’s stock, valued at approximately $4,505,712.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of AmerisourceBergen Corp. (ABC) opened at $89.19 on Friday. AmerisourceBergen Corp. has a twelve month low of $71.90 and a twelve month high of $106.27. The company has a current ratio of 0.95, a quick ratio of 0.48 and a debt-to-equity ratio of 1.61. The firm has a market cap of $19,592.28, a P/E ratio of 14.67, a PEG ratio of 1.43 and a beta of 1.02.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.20. AmerisourceBergen had a net margin of 0.66% and a return on equity of 53.65%. The company had revenue of $40.47 billion during the quarter, compared to the consensus estimate of $40.42 billion. During the same quarter in the prior year, the firm posted $1.36 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. research analysts forecast that AmerisourceBergen Corp. will post 6.58 earnings per share for the current year.
A number of analysts have issued reports on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $112.00 price objective (up previously from $105.00) on shares of AmerisourceBergen in a report on Wednesday. They noted that the move was a valuation call. Needham & Company LLC boosted their price objective on shares of AmerisourceBergen from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Mizuho set a $100.00 price objective on shares of AmerisourceBergen and gave the company a “hold” rating in a report on Wednesday, January 24th. Robert W. Baird reissued a “buy” rating and issued a $96.00 price objective on shares of AmerisourceBergen in a report on Monday, November 6th. Finally, TheStreet raised shares of AmerisourceBergen from a “c” rating to a “b” rating in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $101.17.
Several institutional investors have recently modified their holdings of ABC. Vantage Investment Advisors LLC acquired a new position in AmerisourceBergen during the 4th quarter worth approximately $156,000. Intl Fcstone Inc. acquired a new position in AmerisourceBergen during the 2nd quarter worth approximately $201,000. TRUE Private Wealth Advisors acquired a new position in AmerisourceBergen during the 4th quarter worth approximately $203,000. Zeke Capital Advisors LLC acquired a new position in AmerisourceBergen during the 3rd quarter worth approximately $210,000. Finally, IBM Retirement Fund acquired a new position in AmerisourceBergen during the 4th quarter worth approximately $216,000. 67.57% of the stock is owned by institutional investors.
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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