Cypress Wealth Services LLC Acquires Shares of 1,993 AmerisourceBergen Co. (NYSE:ABC)


Share on StockTwits

Cypress Wealth Services LLC purchased a new position in shares of AmerisourceBergen Co. (NYSE:ABC) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,993 shares of the company’s stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABC. Duality Advisers LP increased its holdings in AmerisourceBergen by 118.1% in the 4th quarter. Duality Advisers LP now owns 78,508 shares of the company’s stock valued at $7,675,000 after purchasing an additional 42,508 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in AmerisourceBergen by 2.1% in the 4th quarter. Wedge Capital Management L L P NC now owns 283,425 shares of the company’s stock valued at $27,708,000 after purchasing an additional 5,718 shares during the last quarter. Beutel Goodman & Co Ltd. increased its holdings in AmerisourceBergen by 5.9% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 2,290,254 shares of the company’s stock valued at $223,895,000 after purchasing an additional 127,523 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in AmerisourceBergen in the 1st quarter valued at approximately $1,381,000. Finally, NN Investment Partners Holdings N.V. increased its holdings in AmerisourceBergen by 12.3% in the 4th quarter. NN Investment Partners Holdings N.V. now owns 16,037 shares of the company’s stock valued at $1,567,000 after purchasing an additional 1,762 shares during the last quarter. Institutional investors and hedge funds own 63.35% of the company’s stock.

AmerisourceBergen stock opened at $123.79 on Tuesday. The stock has a market cap of $25.34 billion, a P/E ratio of -7.37, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57. The company has a fifty day simple moving average of $117.89 and a 200-day simple moving average of $106.86. AmerisourceBergen Co. has a 12-month low of $81.51 and a 12-month high of $124.28. The company has a current ratio of 0.98, a quick ratio of 0.60 and a debt-to-equity ratio of 0.91.

AmerisourceBergen (NYSE:ABC) last released its quarterly earnings data 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. AmerisourceBergen had a negative net margin of 1.80% and a positive return on equity of 65.93%. The business had revenue of $52.50 billion during the quarter, compared to analysts’ expectations of $50.49 billion. During the same period in the previous year, the company earned $1.76 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that AmerisourceBergen Co. will post 8.38 earnings per share for the current fiscal year.

Several analysts recently weighed in on ABC shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AmerisourceBergen from $111.00 to $115.00 and gave the company a “hold” rating in a report on Thursday, January 7th. Bank of America raised shares of AmerisourceBergen from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 6th. Credit Suisse Group raised their price target on shares of AmerisourceBergen from $123.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, February 5th. Cowen raised their price target on shares of AmerisourceBergen from $145.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, February 8th. Finally, Zacks Investment Research raised shares of AmerisourceBergen from a “sell” rating to a “hold” rating and set a $111.00 price target for the company in a research report on Thursday, January 7th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. AmerisourceBergen has a consensus rating of “Buy” and an average target price of $121.67.

In related news, Director Henry Wadsworth Mcgee III sold 5,801 shares of AmerisourceBergen stock in a transaction 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 sale, the director now directly owns 11,487 shares in the company, valued at approximately $1,206,249.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gina Clark sold 9,013 shares of AmerisourceBergen stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $117.94, for a total transaction of $1,062,993.22. The disclosure for this sale can be found here. Insiders have sold a total of 94,373 shares of company stock worth $10,882,620 over the last quarter. 28.30% of the stock is owned by company 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.

See Also: What is a Real Estate Investment Trust (REIT)?

Want to see what other hedge funds are holding ABC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AmerisourceBergen Co. (NYSE:ABC).

Institutional Ownership by Quarter for AmerisourceBergen (NYSE:ABC)

Receive News & Ratings for AmerisourceBergen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AmerisourceBergen and related companies with MarketBeat.com's FREE daily email newsletter.