First Midwest Bank Trust Division Sells 695 Shares of AmerisourceBergen Corp. (NYSE:ABC)

First Midwest Bank Trust Division lessened its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 6.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 10,511 shares of the company’s stock after selling 695 shares during the period. First Midwest Bank Trust Division’s holdings in AmerisourceBergen were worth $896,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. World Asset Management Inc grew its position in AmerisourceBergen by 3.5% in the second quarter. World Asset Management Inc now owns 12,486 shares of the company’s stock worth $1,065,000 after acquiring an additional 418 shares in the last quarter. Huntington National Bank grew its position in AmerisourceBergen by 40.2% in the second quarter. Huntington National Bank now owns 24,771 shares of the company’s stock worth $2,112,000 after acquiring an additional 7,103 shares in the last quarter. Rhenman & Partners Asset Management AB grew its position in AmerisourceBergen by 21.5% in the second quarter. Rhenman & Partners Asset Management AB now owns 141,520 shares of the company’s stock worth $12,066,000 after acquiring an additional 25,000 shares in the last quarter. Clear Harbor Asset Management LLC grew its position in AmerisourceBergen by 49.4% in the second quarter. Clear Harbor Asset Management LLC now owns 5,444 shares of the company’s stock worth $464,000 after acquiring an additional 1,800 shares in the last quarter. Finally, AE Wealth Management LLC grew its position in AmerisourceBergen by 4.7% in the second quarter. AE Wealth Management LLC now owns 3,700 shares of the company’s stock worth $316,000 after acquiring an additional 167 shares in the last quarter. Institutional investors and hedge funds own 66.49% of the company’s stock.

NYSE ABC traded down $1.26 during trading on Wednesday, hitting $87.46. The stock had a trading volume of 632,197 shares, compared to its average volume of 1,056,657. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.95 and a quick ratio of 0.56. The stock has a market cap of $18.40 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.63 and a beta of 0.95. AmerisourceBergen Corp. has a one year low of $69.36 and a one year high of $94.85. The firm’s 50 day moving average price is $86.42.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $2.11 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $43.32 billion during the quarter, compared to the consensus estimate of $43.44 billion. During the same quarter in the previous year, the firm posted $1.94 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts expect that AmerisourceBergen Corp. will post 6.86 EPS for the current fiscal year.

In other news, insider Dale Danilewitz sold 543 shares of AmerisourceBergen stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $81.16, for a total transaction of $44,069.88. Following the completion of the sale, the insider now owns 1,085 shares of the company’s stock, valued at $88,058.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Steven H. Collis sold 107,826 shares of AmerisourceBergen stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $86.18, for a total transaction of $9,292,444.68. Following the sale, the chairman now directly owns 242,405 shares of the company’s stock, valued at approximately $20,890,462.90. The disclosure for this sale can be found here. Insiders have sold 163,179 shares of company stock valued at $13,907,781 in the last ninety days. Insiders own 27.80% of the company’s stock.

Several research firms recently commented on ABC. Argus dropped their price target on AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, June 3rd. Guggenheim lifted their price target on Intuit from $260.00 to $310.00 in a research report on Thursday, April 11th. Wolfe Research started coverage on Iqvia in a research report on Tuesday, April 2nd. They issued a “market perform” rating for the company. Zacks Investment Research raised shares of Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, June 12th. Finally, Bank of America set a $25.00 price objective on shares of Bed Bath & Beyond and gave the stock a “buy” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. AmerisourceBergen presently has an average rating of “Hold” and an average price target of $88.33.

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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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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