CX Institutional Invests $1.89 Million in AmerisourceBergen Corp. (ABC)

CX Institutional bought a new position in shares of AmerisourceBergen Corp. (NYSE:ABC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,709 shares of the company’s stock, valued at approximately $1,885,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Clarus Wealth Advisors grew its stake in AmerisourceBergen by 12.2% in the fourth quarter. Clarus Wealth Advisors now owns 1,308 shares of the company’s stock worth $97,000 after purchasing an additional 142 shares in the last quarter. Lenox Wealth Management Inc. grew its stake in AmerisourceBergen by 2.0% in the fourth quarter. Lenox Wealth Management Inc. now owns 8,379 shares of the company’s stock worth $623,000 after purchasing an additional 163 shares in the last quarter. Strategic Wealth Partners Ltd. grew its stake in AmerisourceBergen by 5.4% in the third quarter. Strategic Wealth Partners Ltd. now owns 3,201 shares of the company’s stock worth $295,000 after purchasing an additional 164 shares in the last quarter. AE Wealth Management LLC grew its stake in AmerisourceBergen by 5.3% in the fourth quarter. AE Wealth Management LLC now owns 3,541 shares of the company’s stock worth $263,000 after purchasing an additional 179 shares in the last quarter. Finally, Buckley Wealth Management LLC grew its stake in AmerisourceBergen by 2.7% in the fourth quarter. Buckley Wealth Management LLC now owns 7,155 shares of the company’s stock worth $532,000 after purchasing an additional 190 shares in the last quarter. 66.55% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Steven H. Collis sold 21,344 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $83.62, for a total transaction of $1,784,785.28. Following the completion of the transaction, the chief executive officer now directly owns 155,923 shares in the company, valued at $13,038,281.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dale Danilewitz sold 5,703 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $86.80, for a total value of $495,020.40. Following the sale, the insider now directly owns 8,960 shares in the company, valued at approximately $777,728. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 2,018 shares of company stock valued at $156,471 and have sold 88,333 shares valued at $7,341,200. Insiders own 27.80% of the company’s stock.

A number of equities analysts have commented on ABC shares. Zacks Investment Research upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. TheStreet downgraded AmerisourceBergen from a “b” rating to a “c+” rating in a research note on Tuesday, March 19th. ValuEngine upgraded AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Thursday, January 31st. Finally, UBS Group started coverage on AmerisourceBergen in a research note on Thursday, January 17th. They issued a “buy” rating and a $89.00 target price for the company. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $86.57.

Shares of NYSE ABC traded up $0.33 during midday trading on Friday, hitting $74.05. 776,187 shares of the company’s stock were exchanged, compared to its average volume of 1,470,972. The company has a current ratio of 0.94, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The company has a market cap of $15.50 billion, a PE ratio of 11.41, a P/E/G ratio of 1.36 and a beta of 1.12. AmerisourceBergen Corp. has a twelve month low of $69.36 and a twelve month high of $95.00.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, January 31st. The company reported $1.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.10. The business had revenue of $45.39 billion during the quarter, compared to the consensus estimate of $43.52 billion. AmerisourceBergen had a return on equity of 44.53% and a net margin of 0.69%. Sell-side analysts forecast that AmerisourceBergen Corp. will post 6.75 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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