AmerisourceBergen Co. (NYSE:ABC) CEO Steven H. Collis sold 20,913 shares of the firm’s stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $117.65, for a total transaction of $2,460,414.45. Following the completion of the transaction, the chief executive officer now directly owns 209,984 shares of the company’s stock, valued at approximately $24,704,617.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of ABC opened at $120.94 on Friday. AmerisourceBergen Co. has a twelve month low of $92.00 and a twelve month high of $125.86. The firm has a fifty day moving average price of $118.49. The firm has a market cap of $24.84 billion, a price-to-earnings ratio of -6.57, a price-to-earnings-growth ratio of 1.14 and a beta of 0.54.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Tuesday, May 4th. The company reported $2.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.48 by $0.05. AmerisourceBergen had a negative net margin of 1.91% and a positive return on equity of 277.60%. The business had revenue of $49.15 billion for the quarter, compared to analyst estimates of $50.06 billion. During the same period last year, the business earned $2.40 EPS. The company’s revenue was up 3.7% on a year-over-year basis. Analysts anticipate that AmerisourceBergen Co. will post 9.01 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the stock. KB Financial Partners LLC acquired a new stake in AmerisourceBergen during the 1st quarter worth $35,000. Advisor Partners LLC raised its stake in AmerisourceBergen by 18.2% during the 1st quarter. Advisor Partners LLC now owns 7,547 shares of the company’s stock worth $891,000 after acquiring an additional 1,164 shares in the last quarter. Schroder Investment Management Group raised its stake in AmerisourceBergen by 45.1% during the 1st quarter. Schroder Investment Management Group now owns 98,262 shares of the company’s stock worth $11,602,000 after acquiring an additional 30,562 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in AmerisourceBergen by 60.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 27,950 shares of the company’s stock worth $3,274,000 after acquiring an additional 10,496 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in AmerisourceBergen by 58.0% during the 1st quarter. Principal Financial Group Inc. now owns 331,031 shares of the company’s stock worth $39,085,000 after acquiring an additional 121,485 shares in the last quarter. Hedge funds and other institutional investors own 64.00% of the company’s stock.
Separately, Barclays raised their price target on shares of AmerisourceBergen from $122.00 to $130.00 and gave the company an “equal weight” rating in a research report on Thursday, May 6th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $122.50.
AmerisourceBergen Company 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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