New Mexico Educational Retirement Board trimmed its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 21.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,491 shares of the company’s stock after selling 2,550 shares during the quarter. New Mexico Educational Retirement Board’s holdings in AmerisourceBergen were worth $840,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in ABC. WASHINGTON TRUST Co bought a new position in AmerisourceBergen in the 1st quarter valued at about $25,000. Harbor Investment Advisory LLC increased its holdings in AmerisourceBergen by 910.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 303 shares of the company’s stock valued at $27,000 after buying an additional 273 shares during the period. Virtus ETF Advisers LLC bought a new position in AmerisourceBergen in the 4th quarter valued at about $26,000. OmniStar Financial Group Inc. bought a new position in AmerisourceBergen in the 1st quarter valued at about $29,000. Finally, Truvestments Capital LLC bought a new position in AmerisourceBergen in the 1st quarter valued at about $31,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE ABC opened at $98.99 on Tuesday. The company has a market capitalization of $20.17 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 1.87 and a beta of 0.62. AmerisourceBergen Corp. has a 52-week low of $72.06 and a 52-week high of $103.37. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.63 and a current ratio of 0.97. The company’s 50 day moving average price is $95.26 and its 200-day moving average price is $89.44.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings results on Thursday, May 7th. The company reported $2.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.27 by $0.13. AmerisourceBergen had a net margin of 0.85% and a return on equity of 48.85%. The firm had revenue of $47.42 billion for the quarter, compared to the consensus estimate of $45.90 billion. During the same quarter in the previous year, the company earned $2.11 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Analysts forecast that AmerisourceBergen Corp. will post 7.45 earnings per share for the current year.

In related news, EVP Robert P. Mauch sold 5,262 shares of the business’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of $102.00, for a total value of $536,724.00. Following the transaction, the executive vice president now directly owns 28,091 shares of the company’s stock, valued at approximately $2,865,282. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gina Clark sold 3,099 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $89.60, for a total transaction of $277,670.40. Following the sale, the executive vice president now directly owns 17,903 shares in the company, valued at $1,604,108.80. The disclosure for this sale can be found here. Insiders have sold a total of 70,405 shares of company stock valued at $6,542,950 in the last 90 days. 28.30% of the stock is currently owned by company insiders.

Several research firms have commented on ABC. Deutsche Bank raised their target price on shares of AmerisourceBergen from $93.00 to $98.00 and gave the company a “hold” rating in a report on Monday, May 11th. ValuEngine lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. raised shares of AmerisourceBergen from a “neutral” rating to an “overweight” rating and raised their target price for the company from $93.00 to $106.00 in a report on Wednesday, April 1st. Zacks Investment Research lowered shares of AmerisourceBergen from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a report on Wednesday, April 1st. Finally, Credit Suisse Group started coverage on shares of AmerisourceBergen in a report on Wednesday, April 22nd. They set a “buy” rating and a $105.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. AmerisourceBergen has an average rating of “Buy” and an average target price of $103.89.

AmerisourceBergen Profile

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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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