Empowered Funds LLC purchased a new position in shares of AmerisourceBergen Corp. (NYSE:ABC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 28,616 shares of the company’s stock, valued at approximately $2,433,000.
Several other hedge funds have also modified their holdings of the company. California Public Employees Retirement System grew its stake in shares of AmerisourceBergen by 15.1% during the fourth quarter. California Public Employees Retirement System now owns 444,057 shares of the company’s stock worth $37,754,000 after acquiring an additional 58,152 shares during the last quarter. TRUE Private Wealth Advisors purchased a new stake in AmerisourceBergen in the fourth quarter valued at approximately $184,000. Virginia Retirement Systems ET AL boosted its position in AmerisourceBergen by 355.9% in the fourth quarter. Virginia Retirement Systems ET AL now owns 202,400 shares of the company’s stock valued at $17,208,000 after buying an additional 158,000 shares during the last quarter. Usca Ria LLC boosted its position in AmerisourceBergen by 2.7% in the fourth quarter. Usca Ria LLC now owns 34,491 shares of the company’s stock valued at $2,932,000 after buying an additional 911 shares during the last quarter. Finally, Birch Capital Management LLC purchased a new stake in AmerisourceBergen in the fourth quarter valued at approximately $2,055,000. Institutional investors and hedge funds own 66.71% of the company’s stock.
NYSE:ABC traded up $0.86 during trading hours on Tuesday, reaching $88.38. The company had a trading volume of 6,197 shares, compared to its average volume of 1,071,605. AmerisourceBergen Corp. has a 1-year low of $70.55 and a 1-year high of $94.75. The firm has a market cap of $18.31 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.59 and a beta of 0.96. The business’s 50 day moving average price is $86.70 and its 200-day moving average price is $86.16. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.95 and a quick ratio of 0.58.
A number of equities research analysts recently commented on the company. TheStreet upgraded AmerisourceBergen from a “c+” rating to a “b-” rating in a research report on Friday, December 6th. Argus reiterated a “buy” rating and issued a $110.00 target price on shares of AmerisourceBergen in a research report on Monday, November 18th. Barclays reiterated a “hold” rating and issued a $100.00 target price on shares of AmerisourceBergen in a research report on Sunday, January 19th. Finally, ValuEngine lowered AmerisourceBergen from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $91.50.
In other news, CEO Steven H. Collis sold 19,905 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $84.42, for a total transaction of $1,680,380.10. Following the completion of the transaction, the chief executive officer now directly owns 162,027 shares of the company’s stock, valued at approximately $13,678,319.34. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gina Clark sold 10,917 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $88.24, for a total value of $963,316.08. Over the last ninety days, insiders have sold 64,724 shares of company stock valued at $5,561,840. Corporate insiders own 27.80% of the company’s stock.
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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