Cambridge Financial Group Inc. grew its position in AmerisourceBergen Corp. (NYSE:ABC) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,097 shares of the company’s stock after purchasing an additional 350 shares during the period. AmerisourceBergen makes up 4.1% of Cambridge Financial Group Inc.’s holdings, making the stock its 5th largest position. Cambridge Financial Group Inc.’s holdings in AmerisourceBergen were worth $6,027,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. NEXT Financial Group Inc grew its holdings in AmerisourceBergen by 95.4% during the fourth quarter. NEXT Financial Group Inc now owns 299 shares of the company’s stock worth $25,000 after acquiring an additional 146 shares during the period. WASHINGTON TRUST Co acquired a new stake in AmerisourceBergen during the first quarter worth about $25,000. Virtus ETF Advisers LLC acquired a new stake in AmerisourceBergen during the fourth quarter worth about $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in AmerisourceBergen by 392.9% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 275 shares during the period. Finally, OmniStar Financial Group Inc. acquired a new stake in AmerisourceBergen during the first quarter worth about $29,000. 65.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:ABC traded up $0.89 on Friday, hitting $93.14. 1,027,129 shares of the company’s stock were exchanged, compared to its average volume of 1,448,365. The firm’s 50-day moving average is $87.42 and its 200 day moving average is $87.52. The company has a market capitalization of $18.76 billion, a PE ratio of 12.26, a P/E/G ratio of 1.74 and a beta of 0.60. AmerisourceBergen Corp. has a 1-year low of $72.06 and a 1-year high of $97.50. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.63 and a current ratio of 0.97.
AmerisourceBergen (NYSE:ABC) last posted its earnings results on Thursday, May 7th. The company reported $2.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.13. AmerisourceBergen had a return on equity of 48.85% and a net margin of 0.85%. The business had revenue of $47.42 billion during the quarter, compared to the consensus estimate of $45.90 billion. During the same period in the previous year, the business earned $2.11 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts anticipate that AmerisourceBergen Corp. will post 7.45 EPS for the current fiscal year.
Several analysts recently commented on the company. JPMorgan Chase & Co. raised AmerisourceBergen from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $93.00 to $106.00 in a report on Wednesday, April 1st. Zacks Investment Research downgraded AmerisourceBergen from a “buy” rating to a “hold” rating and set a $93.00 price target on the stock. in a research report on Wednesday, April 1st. Robert W. Baird upgraded AmerisourceBergen from a “neutral” rating to an “outperform” rating and set a $112.00 price target on the stock in a research report on Friday, February 7th. Deutsche Bank increased their price target on AmerisourceBergen from $93.00 to $98.00 and gave the stock a “hold” rating in a research report on Monday, May 11th. Finally, ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $101.89.
In other AmerisourceBergen news, EVP Robert P. Mauch sold 5,262 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $90.00, for a total transaction of $473,580.00. Following the completion of the sale, the executive vice president now directly owns 28,091 shares of the company’s stock, valued at approximately $2,528,190. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dermot Mark Durcan acquired 1,350 shares of AmerisourceBergen stock in a transaction on Monday, March 23rd. The shares were bought at an average cost of $74.33 per share, with a total value of $100,345.50. Following the completion of the purchase, the director now owns 6,717 shares in the company, valued at $499,274.61. The disclosure for this purchase can be found here. Insiders sold a total of 38,791 shares of company stock valued at $3,385,449 over the last three months. Company insiders own 28.30% 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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