Metropolitan Life Insurance Co. NY lowered its stake in AmerisourceBergen Corp. (NYSE:ABC) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,059 shares of the company’s stock after selling 555 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in AmerisourceBergen were worth $2,311,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of ABC. Acima Private Wealth LLC bought a new position in AmerisourceBergen during the 4th quarter valued at approximately $26,000. Private Capital Group LLC lifted its holdings in AmerisourceBergen by 201.3% during the fourth quarter. Private Capital Group LLC now owns 482 shares of the company’s stock worth $36,000 after buying an additional 322 shares during the period. JNBA Financial Advisors purchased a new stake in AmerisourceBergen during the fourth quarter worth $37,000. Oregon Public Employees Retirement Fund lifted its holdings in AmerisourceBergen by 6,614.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,448,589 shares of the company’s stock worth $46,000 after buying an additional 3,397,228 shares during the period. Finally, Financial Gravity Companies Inc. purchased a new stake in AmerisourceBergen during the fourth quarter worth $54,000. Institutional investors own 66.48% of the company’s stock.
A number of equities analysts have recently issued reports on ABC shares. Zacks Investment Research raised AmerisourceBergen from a “sell” rating to a “hold” rating in a research report on Wednesday, December 19th. Guggenheim initiated coverage on shares of AmerisourceBergen in a research note on Thursday. They set a “buy” rating on the stock. Bank of America lowered shares of AmerisourceBergen from a “buy” rating to an “underperform” rating and decreased their price target for the company from $95.00 to $76.00 in a research note on Wednesday, April 10th. TheStreet downgraded shares of AmerisourceBergen from a “b” rating to a “c+” rating in a report on Tuesday, March 19th. Finally, ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Monday, February 25th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.57.
NYSE ABC traded up $1.37 during trading on Monday, reaching $76.11. The company’s stock had a trading volume of 871,000 shares, compared to its average volume of 1,484,764. The company has a quick ratio of 0.53, a current ratio of 0.94 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $15.81 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. AmerisourceBergen Corp. has a 1-year low of $69.36 and a 1-year high of $95.00.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, January 31st. The company reported $1.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.10. The firm had revenue of $45.39 billion during the quarter, compared to analysts’ expectations of $43.52 billion. AmerisourceBergen had a net margin of 0.69% and a return on equity of 44.53%. As a group, equities analysts anticipate that AmerisourceBergen Corp. will post 6.75 EPS for the current year.
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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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