AmerisourceBergen Corp. (NYSE:ABC) Short Interest Update

AmerisourceBergen Corp. (NYSE:ABC) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 7,120,000 shares, a decrease of 17.4% from the September 30th total of 8,620,000 shares. Approximately 4.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,220,000 shares, the days-to-cover ratio is currently 5.8 days.

Shares of NYSE:ABC opened at $87.30 on Friday. AmerisourceBergen has a 52 week low of $69.36 and a 52 week high of $94.75. The company’s 50 day moving average is $84.70 and its two-hundred day moving average is $84.12. The company has a current ratio of 0.95, a quick ratio of 0.58 and a debt-to-equity ratio of 1.35. The company has a market cap of $18.09 billion, a PE ratio of 12.31, a P/E/G ratio of 1.44 and a beta of 0.98.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.61 EPS for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.03. AmerisourceBergen had a net margin of 0.48% and a return on equity of 48.84%. The company had revenue of $45.64 billion for the quarter, compared to the consensus estimate of $45.15 billion. During the same period in the prior year, the firm posted $1.45 EPS. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect that AmerisourceBergen will post 7.54 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, November 15th. AmerisourceBergen’s dividend payout ratio is presently 22.57%.

In other AmerisourceBergen news, EVP John G. Chou sold 13,997 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $86.07, for a total transaction of $1,204,721.79. Also, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $86.08, for a total transaction of $1,713,422.40. Following the sale, the chief executive officer now owns 154,484 shares in the company, valued at $13,297,982.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,506 shares of company stock worth $9,293,253. 27.80% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of AmerisourceBergen by 16.8% in the 2nd quarter. Vanguard Group Inc. now owns 18,910,594 shares of the company’s stock valued at $1,612,318,000 after buying an additional 2,719,868 shares during the last quarter. BlackRock Inc. grew its position in shares of AmerisourceBergen by 1.1% in the 2nd quarter. BlackRock Inc. now owns 12,325,863 shares of the company’s stock valued at $1,050,903,000 after buying an additional 136,458 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of AmerisourceBergen by 9.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,769,023 shares of the company’s stock valued at $236,087,000 after buying an additional 245,394 shares during the last quarter. Northern Trust Corp grew its position in shares of AmerisourceBergen by 3.3% in the 2nd quarter. Northern Trust Corp now owns 2,514,818 shares of the company’s stock valued at $214,414,000 after buying an additional 81,207 shares during the last quarter. Finally, Boston Partners grew its position in shares of AmerisourceBergen by 2.5% in the 2nd quarter. Boston Partners now owns 2,402,458 shares of the company’s stock valued at $204,879,000 after buying an additional 59,431 shares during the last quarter. 65.96% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on ABC shares. Morgan Stanley reduced their target price on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, September 6th. Royal Bank of Canada reiterated a “sector performer” rating on shares of AmerisourceBergen in a report on Tuesday, November 12th. TheStreet downgraded shares of AmerisourceBergen from a “b” rating to a “c+” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price objective on shares of AmerisourceBergen from $95.00 to $91.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $87.78.

About AmerisourceBergen

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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