State of Tennessee Treasury Department increased its stake in AmerisourceBergen Corp. (NYSE:ABC) by 305.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 145,091 shares of the company’s stock after purchasing an additional 109,278 shares during the period. State of Tennessee Treasury Department’s holdings in AmerisourceBergen were worth $12,841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in AmerisourceBergen by 21.4% in the 1st quarter. JPMorgan Chase & Co. now owns 4,892,396 shares of the company’s stock worth $432,978,000 after purchasing an additional 860,769 shares during the period. Victory Capital Management Inc. boosted its stake in AmerisourceBergen by 3.2% in the 4th quarter. Victory Capital Management Inc. now owns 2,943,477 shares of the company’s stock worth $250,254,000 after purchasing an additional 91,934 shares during the period. Geode Capital Management LLC boosted its stake in AmerisourceBergen by 1.6% in the 1st quarter. Geode Capital Management LLC now owns 2,457,080 shares of the company’s stock worth $217,042,000 after purchasing an additional 39,550 shares during the period. Bank of New York Mellon Corp boosted its stake in AmerisourceBergen by 7.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,285,745 shares of the company’s stock worth $202,290,000 after purchasing an additional 150,700 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in AmerisourceBergen by 26.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,199,741 shares of the company’s stock worth $186,986,000 after purchasing an additional 453,621 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. UBS Group reduced their target price on shares of AmerisourceBergen from $108.00 to $99.00 and set a “buy” rating for the company in a research note on Friday, May 15th. JPMorgan Chase & Co. upgraded shares of AmerisourceBergen from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $93.00 to $106.00 in a research note on Wednesday, April 1st. ValuEngine downgraded shares of AmerisourceBergen from a “hold” rating to a “sell” rating in a research note on Wednesday, April 29th. Morgan Stanley upgraded shares of AmerisourceBergen from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $94.00 to $112.00 in a research note on Monday, June 15th. Finally, Deutsche Bank increased their price objective on shares of AmerisourceBergen from $93.00 to $98.00 and gave the stock a “hold” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. AmerisourceBergen currently has a consensus rating of “Buy” and an average target price of $103.89.

Shares of ABC stock traded down $1.45 on Friday, reaching $99.22. The stock had a trading volume of 11,382 shares, compared to its average volume of 1,348,504. The company has a quick ratio of 0.63, a current ratio of 0.97 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average is $94.31 and its two-hundred day moving average is $89.20. The firm has a market capitalization of $20.48 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.86 and a beta of 0.62. AmerisourceBergen Corp. has a 12 month low of $72.06 and a 12 month high of $103.37.

AmerisourceBergen (NYSE:ABC) last issued its earnings results on Thursday, May 7th. The company reported $2.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.27 by $0.13. The company had revenue of $47.42 billion for the quarter, compared to analysts’ expectations of $45.90 billion. AmerisourceBergen had a net margin of 0.85% and a return on equity of 48.85%. AmerisourceBergen’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.11 EPS. On average, sell-side analysts forecast that AmerisourceBergen Corp. will post 7.45 earnings per share for the current fiscal year.

In other AmerisourceBergen news, EVP Robert P. Mauch sold 5,263 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $90.00, for a total value of $473,670.00. Following the transaction, the executive vice president now directly owns 28,092 shares of the company’s stock, valued at approximately $2,528,280. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven H. Collis sold 19,905 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $84.75, for a total transaction of $1,686,948.75. Following the completion of the transaction, the chief executive officer now directly owns 162,027 shares in the company, valued at $13,731,788.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,668 shares of company stock worth $7,016,620. 28.30% of the stock is owned by insiders.

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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