Traders Sell AmerisourceBergen (ABC) on Strength (ABC)

Traders sold shares of AmerisourceBergen (NYSE:ABC) on strength during trading hours on Wednesday. $22.81 million flowed into the stock on the tick-up and $65.72 million flowed out of the stock on the tick-down, for a money net flow of $42.91 million out of the stock. Of all equities tracked, AmerisourceBergen had the 0th highest net out-flow for the day. AmerisourceBergen traded up $0.03 for the day and closed at $84.72

Several equities research analysts have weighed in on ABC shares. Zacks Investment Research upgraded AmerisourceBergen from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Thursday, February 8th. Bank of America began coverage on shares of AmerisourceBergen in a report on Tuesday, February 27th. They set a “buy” rating and a $111.00 price target for the company. Argus upped their price target on shares of AmerisourceBergen from $93.96 to $115.00 and gave the stock a “buy” rating in a report on Monday, March 5th. Credit Suisse Group reiterated an “outperform” rating and set a $112.00 price target (up from $105.00) on shares of AmerisourceBergen in a report on Wednesday, February 7th. They noted that the move was a valuation call. Finally, Barclays began coverage on shares of AmerisourceBergen in a report on Thursday, March 8th. They set an “equal weight” rating and a $104.00 price target for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. AmerisourceBergen has an average rating of “Buy” and an average target price of $102.72.

The firm has a market cap of $18.60 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.28 and a beta of 1.04. The company has a quick ratio of 0.48, a current ratio of 0.94 and a debt-to-equity ratio of 1.38.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings data on Wednesday, May 2nd. The company reported $1.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.13. The business had revenue of $41.03 billion during the quarter, compared to the consensus estimate of $40.56 billion. AmerisourceBergen had a return on equity of 51.04% and a net margin of 0.57%. AmerisourceBergen’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 earnings per share. equities research analysts forecast that AmerisourceBergen will post 6.5 EPS for the current fiscal year.

In related news, insider Robert P. Mauch sold 1,000 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $97.94, for a total value of $97,940.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dale Danilewitz sold 21,500 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $97.30, for a total value of $2,091,950.00. The disclosure for this sale can be found here. Insiders sold 137,870 shares of company stock valued at $12,458,868 over the last 90 days. 27.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in AmerisourceBergen by 5.8% during the 4th quarter. BlackRock Inc. now owns 12,384,803 shares of the company’s stock worth $1,137,171,000 after acquiring an additional 679,417 shares during the period. Vulcan Value Partners LLC grew its holdings in AmerisourceBergen by 29.4% during the 4th quarter. Vulcan Value Partners LLC now owns 7,530,523 shares of the company’s stock worth $691,452,000 after acquiring an additional 1,710,816 shares during the period. Bank of New York Mellon Corp grew its holdings in AmerisourceBergen by 23.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,864,488 shares of the company’s stock worth $263,016,000 after acquiring an additional 550,215 shares during the period. Burgundy Asset Management Ltd. grew its holdings in AmerisourceBergen by 0.6% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,714,628 shares of the company’s stock worth $249,257,000 after acquiring an additional 15,680 shares during the period. Finally, Beutel Goodman & Co Ltd. grew its holdings in AmerisourceBergen by 23.3% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,374,727 shares of the company’s stock worth $174,194,000 after acquiring an additional 449,330 shares during the period. Institutional investors and hedge funds own 66.94% of the company’s stock.

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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