AmerisourceBergen Corp. (ABC) Shares Sold by First Merchants Corp

First Merchants Corp lowered its stake in shares of AmerisourceBergen Corp. (NYSE:ABC) by 1.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,613 shares of the company’s stock after selling 352 shares during the period. First Merchants Corp’s holdings in AmerisourceBergen were worth $1,459,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ABC. Private Capital Group LLC lifted its stake in AmerisourceBergen by 201.3% during the 4th quarter. Private Capital Group LLC now owns 482 shares of the company’s stock valued at $36,000 after acquiring an additional 322 shares during the period. Ipswich Investment Management Co. Inc. bought a new position in shares of AmerisourceBergen in the 4th quarter worth approximately $96,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of AmerisourceBergen by 140.9% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,142 shares of the company’s stock worth $105,000 after purchasing an additional 668 shares during the period. Financial Gravity Wealth Inc. lifted its stake in shares of AmerisourceBergen by 93.2% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 1,254 shares of the company’s stock worth $108,000 after purchasing an additional 605 shares during the period. Finally, Truvestments Capital LLC bought a new position in shares of AmerisourceBergen in the 3rd quarter worth approximately $120,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Royal Bank of Canada lowered their price objective on shares of AmerisourceBergen from $90.00 to $87.00 and set a “hold” rating on the stock in a research note on Friday, November 30th. Morgan Stanley increased their price objective on shares of AmerisourceBergen from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Monday, December 3rd. ValuEngine upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, UBS Group assumed coverage on shares of AmerisourceBergen in a research note on Thursday, January 17th. They issued a “buy” rating and a $89.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $99.00.

In related news, insider Kathy H. Gaddes sold 2,652 shares of the stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $90.54, for a total value of $240,112.08. Following the completion of the sale, the insider now directly owns 4,591 shares of the company’s stock, valued at approximately $415,669.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Chou sold 6,974 shares of the stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $76.99, for a total transaction of $536,928.26. Following the completion of the sale, the insider now directly owns 58,759 shares of the company’s stock, valued at $4,523,855.41. The disclosure for this sale can be found here. Insiders sold a total of 116,099 shares of company stock valued at $9,877,562 over the last three months. 27.80% of the stock is currently owned by insiders.

Shares of NYSE:ABC opened at $83.37 on Friday. AmerisourceBergen Corp. has a twelve month low of $69.36 and a twelve month high of $103.04. The company has a current ratio of 0.93, a quick ratio of 0.50 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $16.64 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.34 and a beta of 1.08.

AmerisourceBergen (NYSE:ABC) last released its earnings results on Tuesday, November 6th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.01. The company had revenue of $43.30 billion during the quarter, compared to analyst estimates of $43.27 billion. AmerisourceBergen had a net margin of 0.99% and a return on equity of 45.54%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 EPS. As a group, analysts expect that AmerisourceBergen Corp. will post 6.76 EPS for the current fiscal year.

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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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