Foundations Investment Advisors LLC Buys 1,478 Shares of AmerisourceBergen Corp. (NYSE:ABC)

Foundations Investment Advisors LLC increased its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 15.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 10,949 shares of the company’s stock after buying an additional 1,478 shares during the period. Foundations Investment Advisors LLC’s holdings in AmerisourceBergen were worth $891,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. BB&T Securities LLC boosted its holdings in AmerisourceBergen by 5.6% in the 2nd quarter. BB&T Securities LLC now owns 399,505 shares of the company’s stock valued at $34,061,000 after purchasing an additional 21,043 shares during the period. Cambridge Financial Group Inc. boosted its holdings in AmerisourceBergen by 3.0% in the 2nd quarter. Cambridge Financial Group Inc. now owns 71,412 shares of the company’s stock valued at $6,089,000 after purchasing an additional 2,085 shares during the period. Nordea Investment Management AB boosted its holdings in AmerisourceBergen by 60.2% in the 1st quarter. Nordea Investment Management AB now owns 75,977 shares of the company’s stock valued at $6,041,000 after purchasing an additional 28,552 shares during the period. ARP Americas LP boosted its holdings in AmerisourceBergen by 123.2% in the 2nd quarter. ARP Americas LP now owns 13,405 shares of the company’s stock valued at $1,143,000 after purchasing an additional 7,400 shares during the period. Finally, AustralianSuper Pty Ltd boosted its holdings in AmerisourceBergen by 33.9% in the 2nd quarter. AustralianSuper Pty Ltd now owns 250,926 shares of the company’s stock valued at $21,394,000 after purchasing an additional 63,478 shares during the period. 65.95% of the stock is owned by institutional investors and hedge funds.

ABC has been the subject of a number of recent research reports. Deutsche Bank initiated coverage on shares of AmerisourceBergen in a report on Thursday, September 12th. They issued a “hold” rating and a $91.00 price objective for the company. Zacks Investment Research raised shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a report on Wednesday, June 12th. Morgan Stanley cut their price objective on shares of AmerisourceBergen from $91.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, September 6th. ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Tuesday, August 6th. Finally, TheStreet raised shares of AmerisourceBergen from a “c+” rating to a “b” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $87.38.

In related news, EVP Gina Clark sold 7,800 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $84.96, for a total transaction of $662,688.00. Following the completion of the transaction, the executive vice president now directly owns 23,595 shares in the company, valued at approximately $2,004,631.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Henry Wadsworth Mcgee III sold 10,585 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $91.97, for a total transaction of $973,502.45. Following the transaction, the director now owns 24,510 shares of the company’s stock, valued at $2,254,184.70. The disclosure for this sale can be found here. Insiders sold a total of 86,189 shares of company stock valued at $7,610,478 over the last 90 days. Corporate insiders own 27.80% of the company’s stock.

Shares of NYSE:ABC traded up $0.22 during midday trading on Monday, hitting $81.85. The stock had a trading volume of 86,176 shares, compared to its average volume of 1,219,006. The company’s 50-day moving average price is $84.13 and its 200-day moving average price is $82.26. The company has a market capitalization of $17.10 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 1.36 and a beta of 1.00. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 1.40. AmerisourceBergen Corp. has a fifty-two week low of $69.36 and a fifty-two week high of $94.85.

AmerisourceBergen (NYSE:ABC) last issued its earnings results on Thursday, August 1st. The company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.62 by $0.14. The company had revenue of $45.24 billion during the quarter, compared to analysts’ expectations of $45.15 billion. AmerisourceBergen had a net margin of 0.54% and a return on equity of 47.88%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.54 EPS. Research analysts expect that AmerisourceBergen Corp. will post 7.05 EPS for the current fiscal year.

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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