Regent Investment Management LLC Has $1.28 Million Stake in AmerisourceBergen Corp. (ABC)

Regent Investment Management LLC lessened its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 9.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,035 shares of the company’s stock after selling 1,685 shares during the period. Regent Investment Management LLC’s holdings in AmerisourceBergen were worth $1,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABC. Acima Private Wealth LLC purchased a new stake in AmerisourceBergen in the 4th quarter valued at about $26,000. Riverview Trust Co raised its holdings in AmerisourceBergen by 127.3% in the 1st quarter. Riverview Trust Co now owns 391 shares of the company’s stock valued at $31,000 after buying an additional 219 shares during the period. Private Capital Group LLC raised its holdings in AmerisourceBergen by 201.3% in the 4th quarter. Private Capital Group LLC now owns 482 shares of the company’s stock valued at $36,000 after buying an additional 322 shares during the period. JNBA Financial Advisors purchased a new stake in AmerisourceBergen in the 4th quarter valued at about $37,000. Finally, Oregon Public Employees Retirement Fund raised its holdings in AmerisourceBergen by 6,614.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,448,589 shares of the company’s stock valued at $46,000 after buying an additional 3,397,228 shares during the period. Institutional investors and hedge funds own 66.50% of the company’s stock.

Shares of AmerisourceBergen stock traded down $1.11 on Monday, reaching $71.34. 7,676 shares of the company were exchanged, compared to its average volume of 1,546,604. AmerisourceBergen Corp. has a 1-year low of $69.36 and a 1-year high of $95.00. The company has a market cap of $15.33 billion, a PE ratio of 11.11, a P/E/G ratio of 1.34 and a beta of 1.12. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.94.

AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings data on Thursday, January 31st. The company reported $1.60 EPS for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.10. AmerisourceBergen had a return on equity of 44.53% and a net margin of 0.69%. The business had revenue of $45.39 billion during the quarter, compared to the consensus estimate of $43.52 billion. On average, sell-side analysts predict that AmerisourceBergen Corp. will post 6.75 earnings per share for the current fiscal year.

In other AmerisourceBergen news, Chairman Steven H. Collis sold 21,350 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $80.72, for a total value of $1,723,372.00. Following the completion of the sale, the chairman now owns 155,929 shares in the company, valued at $12,586,588.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dale Danilewitz sold 5,703 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $77.22, for a total value of $440,385.66. Following the completion of the sale, the insider now owns 7,874 shares of the company’s stock, valued at approximately $608,030.28. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 2,018 shares of company stock valued at $156,471 and sold 87,790 shares valued at $7,302,538. Corporate insiders own 27.80% of the company’s stock.

Several analysts recently issued reports on ABC shares. Zacks Investment Research lowered shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Monday, December 31st. Barclays reaffirmed a “hold” rating and issued a $84.00 target price on shares of AmerisourceBergen in a research report on Sunday, January 6th. ValuEngine downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. TheStreet downgraded AmerisourceBergen from a “b-” rating to a “c+” rating in a research report on Tuesday, January 8th. Finally, UBS Group assumed coverage on AmerisourceBergen in a research report on Thursday, January 17th. They issued a “buy” rating and a $89.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $86.57.

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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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