Huntington National Bank boosted its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 5.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,652 shares of the company’s stock after buying an additional 1,591 shares during the quarter. Huntington National Bank’s holdings in AmerisourceBergen were worth $3,090,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of the stock. WASHINGTON TRUST Co bought a new position in AmerisourceBergen in the 1st quarter worth $25,000. Harbor Investment Advisory LLC raised its holdings in AmerisourceBergen by 910.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 303 shares of the company’s stock worth $27,000 after purchasing an additional 273 shares in the last quarter. OmniStar Financial Group Inc. bought a new position in AmerisourceBergen in the 1st quarter worth $29,000. Ellevest Inc. raised its holdings in AmerisourceBergen by 216.1% in the 2nd quarter. Ellevest Inc. now owns 294 shares of the company’s stock worth $30,000 after purchasing an additional 201 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in AmerisourceBergen in the 1st quarter worth $31,000. Institutional investors own 64.25% of the company’s stock.
In other AmerisourceBergen news, EVP Gina Clark sold 3,098 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $90.96, for a total transaction of $281,794.08. Following the transaction, the executive vice president now owns 17,285 shares in the company, valued at approximately $1,572,243.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert P. Mauch sold 5,262 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $104.40, for a total transaction of $549,352.80. Following the completion of the transaction, the executive vice president now owns 28,091 shares in the company, valued at approximately $2,932,700.40. The disclosure for this sale can be found here. Insiders have sold a total of 79,102 shares of company stock worth $7,850,280 in the last 90 days. Company insiders own 28.30% of the company’s stock.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, May 7th. The company reported $2.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.13. The business had revenue of $47.42 billion for the quarter, compared to analysts’ expectations of $45.90 billion. AmerisourceBergen had a net margin of 0.85% and a return on equity of 48.85%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 EPS. Research analysts forecast that AmerisourceBergen Corp. will post 7.4 EPS for the current fiscal year.
ABC has been the topic of a number of recent research reports. Credit Suisse Group initiated coverage on shares of AmerisourceBergen in a research report on Wednesday, April 22nd. They issued a “buy” rating and a $105.00 target price on the stock. Morgan Stanley raised shares of AmerisourceBergen from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $94.00 to $112.00 in a research report on Monday, June 15th. Bank of America upped their target price on shares of AmerisourceBergen from $85.00 to $88.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 21st. Deutsche Bank upped their target price on shares of AmerisourceBergen from $93.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Finally, UBS Group reduced their target price on shares of AmerisourceBergen from $108.00 to $99.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $102.30.
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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