Meag Munich Ergo Kapitalanlagegesellschaft MBH Sells 8,622 Shares of AmerisourceBergen Corp. (ABC)

Meag Munich Ergo Kapitalanlagegesellschaft MBH cut its holdings in shares of AmerisourceBergen Corp. (NYSE:ABC) by 58.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,073 shares of the company’s stock after selling 8,622 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in AmerisourceBergen were worth $473,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in AmerisourceBergen by 0.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,994 shares of the company’s stock valued at $2,624,000 after purchasing an additional 238 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in AmerisourceBergen by 16.0% during the first quarter. Quadrant Capital Group LLC now owns 2,230 shares of the company’s stock valued at $170,000 after purchasing an additional 307 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in AmerisourceBergen by 24.9% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,383 shares of the company’s stock valued at $3,847,000 after purchasing an additional 9,646 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in AmerisourceBergen by 6.2% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 21,543 shares of the company’s stock valued at $1,713,000 after purchasing an additional 1,260 shares during the last quarter. Finally, FTB Advisors Inc. lifted its stake in AmerisourceBergen by 26.0% during the first quarter. FTB Advisors Inc. now owns 57,247 shares of the company’s stock valued at $4,553,000 after purchasing an additional 11,828 shares during the last quarter. 66.56% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on ABC shares. TheStreet upgraded shares of AmerisourceBergen from a “c+” rating to a “b” rating in a report on Tuesday, February 19th. UBS Group started coverage on shares of AmerisourceBergen in a report on Thursday, January 17th. They set a “buy” rating and a $89.00 price target on the stock. Guggenheim started coverage on shares of AmerisourceBergen in a report on Thursday, April 11th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Monday, January 7th. Finally, Barclays restated a “hold” rating and set a $84.00 price target on shares of AmerisourceBergen in a report on Sunday, January 6th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $86.57.

ABC stock opened at $79.14 on Friday. AmerisourceBergen Corp. has a 52-week low of $69.36 and a 52-week high of $94.88. The company has a current ratio of 0.95, a quick ratio of 0.53 and a debt-to-equity ratio of 1.32. The company has a market cap of $16.71 billion, a PE ratio of 12.19, a PEG ratio of 1.46 and a beta of 1.07.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings results on Thursday, May 2nd. The company reported $2.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.15. AmerisourceBergen had a net margin of 0.53% and a return on equity of 46.24%. The business had revenue of $43.32 billion for the quarter, compared to analyst estimates of $43.44 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that AmerisourceBergen Corp. will post 6.78 EPS for the current fiscal year.

In other AmerisourceBergen news, CEO Steven H. Collis sold 21,344 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $83.62, for a total value of $1,784,785.28. Following the transaction, the chief executive officer now owns 155,923 shares in the company, valued at approximately $13,038,281.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Dale Danilewitz sold 5,703 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $86.80, for a total transaction of $495,020.40. Following the completion of the transaction, the insider now owns 8,960 shares in the company, valued at approximately $777,728. The disclosure for this sale can be found here. In the last quarter, insiders acquired 2,018 shares of company stock worth $156,471 and sold 66,983 shares worth $5,617,828. 27.80% of the stock is currently owned by corporate insiders.

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AmerisourceBergen 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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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