Denali Advisors LLC Acquires Shares of 3,900 AmerisourceBergen Corp. (ABC)

Denali Advisors LLC acquired a new position in shares of AmerisourceBergen Corp. (NYSE:ABC) in the third quarter, Holdings Channel reports. The firm acquired 3,900 shares of the company’s stock, valued at approximately $360,000.

A number of other hedge funds also recently added to or reduced their stakes in ABC. Capital Wealth Planning LLC lifted its holdings in shares of AmerisourceBergen by 412.1% during the second quarter. Capital Wealth Planning LLC now owns 12,577 shares of the company’s stock worth $1,072,000 after buying an additional 10,121 shares in the last quarter. Intrepid Capital Management Inc. lifted its holdings in shares of AmerisourceBergen by 7.1% during the second quarter. Intrepid Capital Management Inc. now owns 157,485 shares of the company’s stock worth $13,429,000 after buying an additional 10,495 shares in the last quarter. Sio Capital Management LLC acquired a new stake in shares of AmerisourceBergen during the second quarter worth $1,180,000. Dimensional Fund Advisors LP lifted its holdings in shares of AmerisourceBergen by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 849,688 shares of the company’s stock worth $72,459,000 after buying an additional 23,216 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of AmerisourceBergen by 14.8% during the second quarter. Toronto Dominion Bank now owns 132,971 shares of the company’s stock worth $11,337,000 after buying an additional 17,141 shares in the last quarter. 66.67% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on ABC. ValuEngine raised AmerisourceBergen from a “sell” rating to a “hold” rating in a report on Saturday, June 16th. Zacks Investment Research downgraded AmerisourceBergen from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. Mizuho reissued a “neutral” rating on shares of AmerisourceBergen in a report on Wednesday, September 19th. Morgan Stanley dropped their target price on AmerisourceBergen from $97.00 to $88.00 and set an “equal weight” rating for the company in a report on Tuesday, July 3rd. Finally, Robert W. Baird reissued a “neutral” rating and set a $94.00 target price on shares of AmerisourceBergen in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $101.80.

In related news, EVP Kathy H. Gaddes sold 2,652 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $89.79, for a total value of $238,123.08. Following the completion of the transaction, the executive vice president now owns 3,891 shares of the company’s stock, valued at $349,372.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven H. Collis sold 21,350 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $93.09, for a total value of $1,987,471.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,074 shares of company stock valued at $7,745,452. 27.30% of the stock is owned by insiders.

ABC stock opened at $90.84 on Thursday. The stock has a market capitalization of $19.95 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.44 and a beta of 1.02. AmerisourceBergen Corp. has a 52 week low of $71.90 and a 52 week high of $106.27. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.94 and a quick ratio of 0.51.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $1.54 EPS for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.08. The business had revenue of $43.14 billion during the quarter, compared to the consensus estimate of $43.05 billion. AmerisourceBergen had a return on equity of 48.65% and a net margin of 0.69%. AmerisourceBergen’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.43 earnings per share. On average, sell-side analysts predict that AmerisourceBergen Corp. will post 6.48 earnings per share for the current fiscal year.

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.

See Also: Return on Investment (ROI)

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Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

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