Bard Financial Services Inc. Takes Position in AmerisourceBergen Co. (NYSE:ABC)


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Bard Financial Services Inc. bought a new stake in AmerisourceBergen Co. (NYSE:ABC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,310 shares of the company’s stock, valued at approximately $812,000.

Several other hedge funds have also recently modified their holdings of the company. First Allied Advisory Services Inc. bought a new position in AmerisourceBergen in the 3rd quarter valued at about $291,000. Morgan Stanley raised its holdings in AmerisourceBergen by 30.6% in the 3rd quarter. Morgan Stanley now owns 600,549 shares of the company’s stock valued at $58,205,000 after acquiring an additional 140,609 shares during the period. Public Sector Pension Investment Board raised its holdings in AmerisourceBergen by 25.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 17,942 shares of the company’s stock valued at $1,739,000 after acquiring an additional 3,600 shares during the period. Engineers Gate Manager LP raised its holdings in AmerisourceBergen by 28.1% in the 3rd quarter. Engineers Gate Manager LP now owns 12,753 shares of the company’s stock valued at $1,236,000 after acquiring an additional 2,798 shares during the period. Finally, Peapack Gladstone Financial Corp raised its holdings in AmerisourceBergen by 9.4% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 2,277 shares of the company’s stock valued at $221,000 after acquiring an additional 196 shares during the period. 63.35% of the stock is currently owned by institutional investors.

Several research firms have weighed in on ABC. Bank of America raised shares of AmerisourceBergen from an “underperform” rating to a “neutral” rating in a report on Wednesday, January 6th. Evercore ISI upgraded shares of AmerisourceBergen from an “in-line” rating to an “outperform” rating in a research report on Thursday, February 4th. Zacks Investment Research upgraded shares of AmerisourceBergen from a “sell” rating to a “hold” rating and set a $111.00 target price on the stock in a research report on Thursday, January 7th. Mizuho increased their target price on shares of AmerisourceBergen from $104.00 to $114.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 9th. They noted that the move was a valuation call. Finally, Cowen increased their target price on shares of AmerisourceBergen from $145.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, February 8th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $121.67.

In other AmerisourceBergen news, EVP John G. Chou sold 6,082 shares of the firm’s stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $115.35, for a total value of $701,558.70. Following the sale, the executive vice president now owns 73,183 shares in the company, valued at $8,441,659.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henry Wadsworth Mcgee III sold 5,801 shares of the firm’s stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $105.01, for a total transaction of $609,163.01. Following the completion of the sale, the director now owns 11,487 shares in the company, valued at approximately $1,206,249.87. The disclosure for this sale can be found here. Insiders sold 54,593 shares of company stock worth $6,171,704 in the last 90 days. Company insiders own 28.30% of the company’s stock.

NYSE ABC opened at $116.48 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.60 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $23.84 billion, a price-to-earnings ratio of -6.94, a P/E/G ratio of 1.13 and a beta of 0.57. The firm’s 50 day simple moving average is $110.84 and its 200 day simple moving average is $103.90. AmerisourceBergen Co. has a 1 year low of $81.51 and a 1 year high of $120.54.

AmerisourceBergen (NYSE:ABC) last posted its quarterly earnings results on Wednesday, February 3rd. The company reported $2.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.24. The business had revenue of $52.50 billion for the quarter, compared to analyst estimates of $50.49 billion. AmerisourceBergen had a negative net margin of 1.80% and a positive return on equity of 65.93%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $1.76 EPS. On average, equities research analysts forecast that AmerisourceBergen Co. will post 8.38 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.51%. AmerisourceBergen’s dividend payout ratio is 22.28%.

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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