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Henry Wadsworth Mcgee III Sells 10,585 Shares of AmerisourceBergen Corp. (NYSE:ABC) Stock

AmerisourceBergen Corp. (NYSE:ABC) Director Henry Wadsworth Mcgee III sold 10,585 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $91.97, for a total transaction of $973,502.45. Following the transaction, the director now directly owns 24,510 shares of the company’s stock, valued at approximately $2,254,184.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link .

Shares of AmerisourceBergen stock opened at $89.85 on Friday. AmerisourceBergen Corp. has a 1 year low of $69.36 and a 1 year high of $94.85. The company has a market capitalization of $18.96 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.73 and a beta of 0.95. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 1.43. The company’s 50 day moving average is $84.29.

Get AmerisourceBergen alerts: AmerisourceBergen (NYSE:ABC) last announced its earnings results on Thursday, May 2nd. The company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.15. AmerisourceBergen had a net margin of 0.53% and a return on equity of 46.24%. The business had revenue of $43.32 billion during the quarter, compared to analyst estimates of $43.44 billion. During the same period in the previous year, the business posted $1.94 earnings per share. AmerisourceBergen’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts anticipate that AmerisourceBergen Corp. will post 6.85 EPS for the current year.

Several equities analysts recently commented on ABC shares. Argus reduced their price objective on shares of AmerisourceBergen from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, June 3rd. Guggenheim boosted their price objective on shares of Intuit from $260.00 to $310.00 in a research note on Thursday, April 11th. Wolfe Research started coverage on shares of Iqvia in a research note on Tuesday, April 2nd. They set a “market perform” rating for the company. ValuEngine raised shares of Westpac Banking from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, TheStreet raised shares of TerraForm Power from a “c” rating to a “b-” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $88.33.

A number of institutional investors have recently made changes to their positions in ABC. Rational Advisors LLC increased its position in AmerisourceBergen by 1,627.3% during the 1st quarter. Rational Advisors LLC now owns 380 shares of the company’s stock valued at $30,000 after purchasing an additional 358 shares during the period. Riverview Trust Co increased its position in AmerisourceBergen by 127.3% during the 1st quarter. Riverview Trust Co now owns 391 shares of the company’s stock valued at $31,000 after purchasing an additional 219 shares during the period. Trust Co. of Vermont increased its position in AmerisourceBergen by 963.8% during the 1st quarter. Trust Co. of Vermont now owns 500 shares of the company’s stock valued at $40,000 after purchasing an additional 453 shares during the period. Financial Gravity Wealth Inc. purchased a new position in AmerisourceBergen during the 1st quarter valued at $48,000. Finally, Valeo Financial Advisors LLC increased its position in AmerisourceBergen by 139.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 777 shares of the company’s stock valued at $66,000 after purchasing an additional 452 shares during the period. Institutional investors and hedge funds own 66.52% of the company’s stock.

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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