Gabelli Funds LLC increased its position in shares of AmerisourceBergen (NYSE:ABC) by 5.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 175,600 shares of the company’s stock after buying an additional 9,100 shares during the period. Gabelli Funds LLC owned about 0.08% of AmerisourceBergen worth $15,138,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of AmerisourceBergen by 8.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,298 shares of the company’s stock worth $579,000 after buying an additional 507 shares during the period. Bray Capital Advisors increased its stake in shares of AmerisourceBergen by 2.5% during the fourth quarter. Bray Capital Advisors now owns 21,890 shares of the company’s stock worth $2,010,000 after buying an additional 525 shares during the period. River Wealth Advisors LLC increased its stake in shares of AmerisourceBergen by 1.6% during the first quarter. River Wealth Advisors LLC now owns 34,764 shares of the company’s stock worth $2,997,000 after buying an additional 561 shares during the period. Meadow Creek Investment Management LLC increased its stake in shares of AmerisourceBergen by 2.2% during the fourth quarter. Meadow Creek Investment Management LLC now owns 27,216 shares of the company’s stock worth $2,499,000 after buying an additional 576 shares during the period. Finally, State Treasurer State of Michigan increased its stake in shares of AmerisourceBergen by 1.3% during the first quarter. State Treasurer State of Michigan now owns 47,884 shares of the company’s stock worth $4,128,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 65.95% of the company’s stock.
A number of analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of AmerisourceBergen from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Thursday, February 8th. Needham & Company LLC cut their target price on shares of AmerisourceBergen from $117.00 to $113.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Credit Suisse Group restated an “outperform” rating and set a $112.00 target price (up from $105.00) on shares of AmerisourceBergen in a research note on Wednesday, February 7th. They noted that the move was a valuation call. Cowen restated a “buy” rating and set a $108.00 target price on shares of AmerisourceBergen in a research note on Tuesday, February 27th. Finally, Royal Bank of Canada set a $101.00 target price on shares of AmerisourceBergen and gave the stock a “hold” rating in a research note on Monday, April 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. AmerisourceBergen currently has a consensus rating of “Hold” and a consensus target price of $103.07.
Shares of AmerisourceBergen opened at $85.49 on Friday, according to Marketbeat.com. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.94 and a quick ratio of 0.48. The company has a market capitalization of $18.48 billion, a P/E ratio of 13.45, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. AmerisourceBergen has a 52-week low of $71.90 and a 52-week high of $106.27.
AmerisourceBergen (NYSE:ABC) last announced its quarterly earnings results on Wednesday, May 2nd. The company reported $1.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.13. The firm had revenue of $41.03 billion during the quarter, compared to the consensus estimate of $40.56 billion. AmerisourceBergen had a return on equity of 51.04% and a net margin of 0.57%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.77 earnings per share. sell-side analysts predict that AmerisourceBergen will post 6.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 4th. Stockholders of record on Monday, May 21st will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, May 18th. AmerisourceBergen’s payout ratio is currently 25.85%.
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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