Tredje AP fonden reduced its position in shares of AmerisourceBergen Corp. (NYSE:ABC) by 37.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 11,395 shares of the company’s stock after selling 6,937 shares during the period. Tredje AP fonden’s holdings in AmerisourceBergen were worth $1,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of AmerisourceBergen by 21.4% during the first 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. raised its position in AmerisourceBergen by 3.2% in the fourth quarter. Victory Capital Management Inc. now owns 2,943,477 shares of the company’s stock worth $250,254,000 after acquiring an additional 91,934 shares in the last quarter. Geode Capital Management LLC raised its position in AmerisourceBergen by 1.6% in the first quarter. Geode Capital Management LLC now owns 2,457,080 shares of the company’s stock worth $217,042,000 after acquiring an additional 39,550 shares in the last quarter. Bank of New York Mellon Corp raised its position in AmerisourceBergen by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 2,285,745 shares of the company’s stock worth $202,290,000 after acquiring an additional 150,700 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its position in AmerisourceBergen by 26.0% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,199,741 shares of the company’s stock worth $186,986,000 after acquiring an additional 453,621 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

A number of research analysts have recently weighed in on ABC shares. Morgan Stanley upgraded AmerisourceBergen from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $94.00 to $112.00 in a research report on Monday, June 15th. Zacks Investment Research cut AmerisourceBergen from a “buy” rating to a “hold” rating and set a $93.00 price target for the company. in a research report on Wednesday, April 1st. UBS Group dropped their price target on AmerisourceBergen from $108.00 to $99.00 and set a “buy” rating for the company in a research report on Friday, May 15th. Deutsche Bank raised their price target on AmerisourceBergen from $93.00 to $98.00 and gave the company a “hold” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. upgraded AmerisourceBergen from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $93.00 to $106.00 in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $103.89.

Shares of NYSE ABC traded down $1.45 during midday trading on Friday, hitting $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 market capitalization of $20.48 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.86 and a beta of 0.62. AmerisourceBergen Corp. has a 1-year low of $72.06 and a 1-year high of $103.37. 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 company has a fifty day moving average price of $94.31 and a 200 day moving average price of $89.20.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data on Thursday, May 7th. The company reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.13. The business had revenue of $47.42 billion for the quarter, compared to analyst estimates of $45.90 billion. AmerisourceBergen had a return on equity of 48.85% and a net margin of 0.85%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.11 EPS. On average, research analysts forecast that AmerisourceBergen Corp. will post 7.45 EPS for the current year.

In other news, EVP Gina Clark sold 3,098 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.96, for a total value of $281,794.08. Following the completion of the transaction, the executive vice president now directly owns 17,285 shares in the company, valued at $1,572,243.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert P. Mauch sold 5,263 shares of the company’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $90.00, for a total transaction of $473,670.00. Following the completion of the transaction, the executive vice president now owns 28,092 shares of the company’s stock, valued at $2,528,280. The disclosure for this sale can be found here. Insiders sold a total of 75,668 shares of company stock worth $7,016,620 over the last ninety days. Corporate insiders own 28.30% of the company’s stock.

AmerisourceBergen 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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