Raymond James Trust N.A. Decreases Stake in AmerisourceBergen Corp. (NYSE:ABC)

Raymond James Trust N.A. lowered its position in AmerisourceBergen Corp. (NYSE:ABC) by 7.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,829 shares of the company’s stock after selling 326 shares during the period. Raymond James Trust N.A.’s holdings in AmerisourceBergen were worth $326,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. HL Financial Services LLC raised its holdings in shares of AmerisourceBergen by 6.3% during the 1st quarter. HL Financial Services LLC now owns 5,561 shares of the company’s stock worth $442,000 after acquiring an additional 328 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of AmerisourceBergen by 48.4% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,877 shares of the company’s stock worth $140,000 after acquiring an additional 612 shares during the period. Ceredex Value Advisors LLC raised its holdings in shares of AmerisourceBergen by 23.9% during the 1st quarter. Ceredex Value Advisors LLC now owns 2,135,142 shares of the company’s stock worth $169,787,000 after acquiring an additional 411,607 shares during the period. Nordea Investment Management AB raised its holdings in shares of AmerisourceBergen by 60.2% during the 1st quarter. Nordea Investment Management AB now owns 75,977 shares of the company’s stock worth $6,041,000 after acquiring an additional 28,552 shares during the period. Finally, Truvestments Capital LLC purchased a new position in shares of AmerisourceBergen during the 1st quarter worth $96,000. Institutional investors own 66.49% of the company’s stock.

Several research analysts have recently commented on ABC shares. Wolfe Research started coverage on Iqvia in a report on Tuesday, April 2nd. They set a “market perform” rating on the stock. ValuEngine upgraded Westpac Banking from a “sell” rating to a “hold” rating in a report on Wednesday, May 22nd. Guggenheim lifted their price target on Intuit from $260.00 to $310.00 in a report on Thursday, April 11th. Bank of America set a $25.00 price target on Bed Bath & Beyond and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Argus reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. AmerisourceBergen has a consensus rating of “Hold” and an average price target of $88.33.

ABC traded down $1.43 on Wednesday, hitting $87.29. The company had a trading volume of 43,369 shares, compared to its average volume of 1,056,657. The stock has a market cap of $18.40 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.63 and a beta of 0.95. AmerisourceBergen Corp. has a 1 year low of $69.36 and a 1 year high of $94.85. The stock’s fifty day simple moving average is $86.42. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.56 and a current ratio of 0.95.

AmerisourceBergen (NYSE:ABC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.15. The firm had revenue of $43.32 billion for the quarter, compared to analyst estimates of $43.44 billion. AmerisourceBergen had a net margin of 0.53% and a return on equity of 46.24%. AmerisourceBergen’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. On average, equities research analysts predict that AmerisourceBergen Corp. will post 6.86 EPS for the current year.

In other AmerisourceBergen news, Chairman Steven H. Collis sold 107,826 shares of AmerisourceBergen stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $86.18, for a total value of $9,292,444.68. Following the completion of the transaction, the chairman now directly owns 242,405 shares of the company’s stock, valued at approximately $20,890,462.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Henry Wadsworth Mcgee III sold 10,585 shares of AmerisourceBergen stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $91.97, for a total value of $973,502.45. Following the completion of the transaction, the director now directly owns 24,510 shares of the company’s stock, valued at $2,254,184.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,179 shares of company stock valued at $13,907,781. 27.80% of the stock is currently owned by corporate insiders.

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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