Private Capital Group LLC Acquires 1,113 Shares of AmerisourceBergen Corp. (NYSE:ABC)
Private Capital Group LLC boosted its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 128.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,982 shares of the company’s stock after purchasing an additional 1,113 shares during the period. Private Capital Group LLC’s holdings in AmerisourceBergen were worth $175,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABC. Stifel Financial Corp lifted its stake in AmerisourceBergen by 11.0% during the third quarter. Stifel Financial Corp now owns 10,028 shares of the company’s stock worth $818,000 after purchasing an additional 994 shares during the last quarter. AE Wealth Management LLC lifted its stake in AmerisourceBergen by 47.7% during the fourth quarter. AE Wealth Management LLC now owns 5,724 shares of the company’s stock worth $487,000 after purchasing an additional 1,848 shares during the last quarter. Sciencast Management LP bought a new stake in AmerisourceBergen during the fourth quarter worth $298,000. Wedbush Securities Inc. lifted its stake in AmerisourceBergen by 13.3% during the fourth quarter. Wedbush Securities Inc. now owns 8,835 shares of the company’s stock worth $751,000 after purchasing an additional 1,039 shares during the last quarter. Finally, PGGM Investments lifted its stake in AmerisourceBergen by 555.3% during the fourth quarter. PGGM Investments now owns 262,110 shares of the company’s stock worth $22,285,000 after purchasing an additional 222,110 shares during the last quarter. Hedge funds and other institutional investors own 66.47% of the company’s stock.
A number of research analysts have recently commented on the company. Deutsche Bank increased their price target on AmerisourceBergen from $93.00 to $98.00 and gave the company a “hold” rating in a research note on Monday, May 11th. Barclays reiterated a “hold” rating and issued a $100.00 price target on shares of AmerisourceBergen in a research note on Sunday, January 19th. UBS Group dropped their price target on AmerisourceBergen from $108.00 to $99.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. upgraded AmerisourceBergen from a “neutral” rating to an “overweight” rating and increased their price target for the company from $93.00 to $106.00 in a research note on Wednesday, April 1st. Finally, Credit Suisse Group assumed coverage on AmerisourceBergen in a research note on Wednesday, April 22nd. They issued a “buy” rating and a $105.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $101.89.
AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, May 7th. The company reported $2.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.27 by $0.13. AmerisourceBergen had a return on equity of 48.85% and a net margin of 0.85%. The firm had revenue of $47.42 billion during the quarter, compared to the consensus estimate of $45.90 billion. During the same period last year, the business posted $2.11 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts forecast that AmerisourceBergen Corp. will post 7.38 EPS for the current fiscal year.
In other news, EVP Robert P. Mauch sold 5,263 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $90.00, for a total transaction of $473,670.00. Following the transaction, the executive vice president now owns 28,092 shares of the company’s stock, valued at approximately $2,528,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dermot Mark Durcan acquired 1,350 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were bought at an average cost of $74.33 per share, for a total transaction of $100,345.50. Following the transaction, the director now directly owns 6,717 shares in the company, valued at $499,274.61. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 33,529 shares of company stock valued at $2,911,869. Company insiders own 28.30% of the company’s stock.
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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