Wedge Capital Management L L P NC Acquires 76,920 Shares of AmerisourceBergen Corp. (NYSE:ABC)

Wedge Capital Management L L P NC boosted its holdings in AmerisourceBergen Corp. (NYSE:ABC) by 19.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 480,859 shares of the company’s stock after purchasing an additional 76,920 shares during the quarter. Wedge Capital Management L L P NC owned about 0.23% of AmerisourceBergen worth $40,883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pathstone Family Office LLC boosted its holdings in shares of AmerisourceBergen by 67.7% in the second quarter. Pathstone Family Office LLC now owns 312 shares of the company’s stock worth $27,000 after buying an additional 126 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in AmerisourceBergen in the 3rd quarter worth $27,000. Transamerica Financial Advisors Inc. purchased a new stake in AmerisourceBergen in the 2nd quarter worth $38,000. FinTrust Capital Advisors LLC raised its holdings in AmerisourceBergen by 27.5% during the third quarter. FinTrust Capital Advisors LLC now owns 571 shares of the company’s stock valued at $47,000 after acquiring an additional 123 shares during the period. Finally, Citizens Financial Group Inc RI raised its holdings in AmerisourceBergen by 28.0% during the third quarter. Citizens Financial Group Inc RI now owns 581 shares of the company’s stock valued at $47,000 after acquiring an additional 127 shares during the period. 66.74% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on ABC. ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Argus reissued a “buy” rating and issued a $110.00 price target on shares of AmerisourceBergen in a report on Monday, November 18th. Finally, TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b-” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $89.67.

Shares of ABC stock opened at $91.37 on Thursday. AmerisourceBergen Corp. has a 12-month low of $70.55 and a 12-month high of $94.75. The company has a current ratio of 0.95, a quick ratio of 0.58 and a debt-to-equity ratio of 1.45. The stock’s 50-day moving average price is $86.16 and its 200-day moving average price is $85.94. The stock has a market capitalization of $18.29 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.59 and a beta of 0.96.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.03. The company had revenue of $45.64 billion during the quarter, compared to analyst estimates of $45.15 billion. AmerisourceBergen had a return on equity of 48.84% and a net margin of 0.48%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.45 earnings per share. As a group, research analysts predict that AmerisourceBergen Corp. will post 7.52 EPS for the current fiscal year.

In other AmerisourceBergen news, EVP John G. Chou sold 13,997 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $86.07, for a total value of $1,204,721.79. Also, CEO Steven H. Collis sold 19,905 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $86.08, for a total transaction of $1,713,422.40. Following the completion of the sale, the chief executive officer now owns 154,484 shares of the company’s stock, valued at $13,297,982.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,724 shares of company stock valued at $5,561,840. Insiders own 27.80% of the company’s stock.

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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