Robeco Institutional Asset Management B.V. boosted its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 439.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,222 shares of the company’s stock after acquiring an additional 44,982 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in AmerisourceBergen were worth $4,708,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in ABC. Rational Advisors LLC lifted its holdings in AmerisourceBergen by 1,627.3% in the first quarter. Rational Advisors LLC now owns 380 shares of the company’s stock valued at $30,000 after buying an additional 358 shares during the period. Riverview Trust Co lifted its stake in shares of AmerisourceBergen by 127.3% during the 1st quarter. Riverview Trust Co now owns 391 shares of the company’s stock worth $31,000 after buying an additional 219 shares during the last quarter. Trust Co. of Vermont lifted its stake in shares of AmerisourceBergen by 963.8% during the 1st quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock worth $40,000 after buying an additional 453 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new stake in shares of AmerisourceBergen during the 1st quarter worth about $48,000. Finally, Winslow Evans & Crocker Inc. lifted its stake in shares of AmerisourceBergen by 212.2% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 718 shares of the company’s stock worth $62,000 after buying an additional 488 shares during the last quarter. 66.59% of the stock is owned by hedge funds and other institutional investors.
NYSE:ABC traded down $0.77 during mid-day trading on Wednesday, hitting $83.35. 439,322 shares of the company’s stock were exchanged, compared to its average volume of 1,266,115. The stock’s 50 day moving average is $86.93. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.95 and a quick ratio of 0.56. AmerisourceBergen Corp. has a fifty-two week low of $69.36 and a fifty-two week high of $94.85. The company has a market cap of $19.01 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 1.63 and a beta of 0.97.
In other news, Director Richard W. Gochnauer sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.69, for a total value of $443,795.00. Following the transaction, the director now owns 12,364 shares in the company, valued at $997,651.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 107,826 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total transaction of $9,292,444.68. Following the completion of the transaction, the chairman now owns 242,405 shares in the company, valued at approximately $20,890,462.90. The disclosure for this sale can be found here. Insiders sold a total of 191,379 shares of company stock worth $16,502,190 in the last 90 days. Corporate insiders own 27.80% of the company’s stock.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Wednesday, June 12th. Argus decreased their price target on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. ValuEngine lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday. TheStreet raised shares of AmerisourceBergen from a “c+” rating to a “b” rating in a report on Thursday, August 1st. Finally, 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 report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. AmerisourceBergen currently has an average rating of “Hold” and a consensus target price of $88.25.
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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